Google acquires Nest Labs for $3.2 billion

Google has announced the acquisition of Nest Labs for $3.2 billion in cash. Nest Labs launched their first product in 2011 – a Learning Thermostat and most recently announced Protect, which is a smoke and carbon monoxide alarm.

Google expects to close the deal in coming months and will run the company under its original leadership with its own brand identity.

Nest products allows users to remotely manage their devices from the mobile devices.