The tech world started the new year with a bang, as Google (GOOG) announced some head-turning news in the mergers and acquisitions arena. Google paid $3.2 billion for Nest Labs, which is the developer of the highly popular Internet-connected Nest thermostat.
This is definitely a critical mergers and acquisitions announcement. In fact, the Nest Labs purchase ranks No. 3 for all Google buys, behind only the Motorola Mobility and DoubleClick acquisitions. And, of course, the impact of the Nest thermostat on Google could be huge.
“If you think about it,” Marcus Nelson, the founder and CEO of Addvocate said, “Google is working to become the nerve center of the world around us — a world that we will be able to control to make our lives a lot better, and make Google even richer.”
But while that’s accurate, it’s also a bit vague. Let’s take a closer look at some specific ways Google will benefit from the Nest Lab acquisition.