Google’s Nest Acquisition Is a $3.2 Billion Bet on the Internet of Things

Nest cool Thermostat News: Google is buying Nest — the maker of Internet-savvy thermostats and smoke detectors — for $3.2 billion in cash. It is about 30x the annual expected revenues! – of $ 100 million.

Nest was co-founded by Tony Fadell (the man who instigated the iPod and turned it into a company-changing business for Apple) and Matt Rogers (also an Apple alum). Read full posto from Time Tech here>> and the post from the Nest CEO here>>.

What’s amazing is that smart devices for home management – which always appeared as a dull chore for geeky husbands – are now becoming as interesting for potential web applications as home-entertainement hardware.

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