27.06.14

Nest Agrees to Buy Dropcam for US$555 Million

Nest has announced that it has entered into an agreement to buy Dropcam for $555 million in cash, subject to adjustments. Nest Labs, I...

Nest has announced that it has entered into an agreement to buy Dropcam for $555 million in cash, subject to adjustments. Nest Labs, Inc. (nest.com) announced today that it has entered into an agreement to buy Dropcam for $555 million in cash, subject to adjustments. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. For more information, visit the Nest blog. Nest reinvents unloved but important home products, like the thermostat and smoke and CO alarm. The company focuses on delighting customers with simple, beautiful and thoughtful hardware, software and services. The Nest Learning Thermostat™ and Nest Energy Services offerings address home energy consumption, and Nest Protect: Smoke + Carbon Monoxide™ helps keep people safe. Nest products are sold in the U.S., U.K. and Canada, and are installed in more than 120 countries. About Dropcam, Inc. Dropcam is revolutionizing the way people stay connected to the places they care about. With Dropcam’s Wi-Fi video monitoring cameras and optional Cloud Recording you can remotely drop in on your house, baby, pets, business, or anything else from a smartphone, tablet, or computer. The San Francisco based company was founded in 2009 by Greg Duffy and Aamir Virani. www.dropcam.com www.nest.com