FTC Gives Google the Green Light to Buy Nest
Google can now complete the acquisition of Nest after the FTC agreed to the deal
Google announced its intention of buying home automation company Nest for $3.2 billion (€2.34 billion) in cash on January 13. Recently, the United States Federal Trade Commission (FTC) has signed off on the agreement.The two companies can go forth and finish the paperwork and Nest will officially become a part of Google.
The sum will be paid in cash, the two said at the time of the announcement. Nest products will continue to be available to shoppers in the United States, Canada and the United Kingdom, while all data belonging to Nest customers will remain in the company’s possession and won’t be handed over to Google, as many were concerned.
“Nest’s founders, Tony Fadell and Matt Rogers, have built a tremendous team that we are excited to welcome into the Google family. They’re already delivering amazing products you can buy right now--thermostats that save energy and smoke/CO alarms that can help keep your family safe. We are excited to bring great experiences to more homes in more countries and fulfill their dreams!” Larry Page said at the time of the acquisition.