Google's Nest Labs drops $555 million on Dropcam
Nest Labs, a division of Google, announced late Friday that it will acquire video surveillance startup Dropcam for $555 million "as part of a push to become the dominant operating system for connected devices in and around the home."
Reports the Wall Street Journal:
Nest, which makes Internet-connected thermostats and smoke detectors, is paying cash for the startup and will work with Dropcam to develop products and services that connect users to their homes, Matt Rogers, co-founder of Nest, said in an interview. The deal requires regulatory approval.