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Google Closes Nest Labs Deal

February 12, 2014  |  2:40pm
Google Closes Nest Labs Deal

Google is now the official owner of Nest Labs, the creators of the smart smoke alarm and thermostat. After receiving early approval from the Federal Trade Commission (the FTC allowed the acquisition to close sooner than expected by waiving the regular waiting period), Google released in a Securities and Exchange Commission document filed today that its gain in Nest Labs officially closed on Feb. 7. Prior to this transaction, Google owned 12 percent of the company, but its $3.2 billion cash purchase now gives them full ownership of Nest Labs.

Nest Labs will continue to maintain a level of independence, but won’t be kept completely separate. Both companies agree that the deal will help Nest Labs scale its business by giving it the opportunity to create new smart appliances and spread those devices to other countries.

It’s obviously a little too early to predict what Google and Nest Labs have planned to create in their collaboration, but seeing Google’s clout and Nest Lab’s ability to create awesome products, it’s sure to be interesting.

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