Google to Acquire Smart Thermostat Provider Used by Several Retail Suppliers

Google Inc. announced that it has entered into an agreement to buy Nest Labs, Inc. for $3.2 billion in cash.

Several retail suppliers, including various NRG Energy retail companies as well as Infinite Energy, offer bundled products including a Nest learning thermostat.

"Google will help us fully realize our vision of the conscious home and allow us to change the world faster than we ever could if we continued to go it alone. We've had great momentum, but this is a rocket ship," said Tony Fadell, Nest's co-founder and CEO.

Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity, Google said.

An FAQ posted on Nest's blog provides in relevant part:

Q: Will Nest and Google products work with each other?

A: Nest's product line obviously caught the attention of Google and I'm betting that there's a lot of cool stuff we could do together, but nothing to share today.

Q: Will I still be able to find Nest products at my local retailer?

A: You bet. We intend to continue selling through the same partners in the US, Canada and the UK.

Q: Will Nest customer data be shared with Google?

A: Our privacy policy clearly limits the use of customer information to providing and improving Nest's products and services. We've always taken privacy seriously and this will not change.