What Google Wants from Nest

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1Q 2014 | IN-1018197

 

Google Makes a Big Bet on the Consumer IoT

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Google announced on January 13, 2013, that it had agreed to buy smart home start-up Nest for US$3.2 billion, which is about US$1 billion more than Nest’s reported valuation in its planned financing round. Although it could be justifiably argued that a premium of this scale is taking the investment environment dubiously close to the bubble zone, the deal itself demonstrates rather powerfully that the consumer-oriented IoT is inevitably becoming a real deal. Consumer-facing technology firms are fiercely trying to make sense of the opportunity and determine how much they should spend on IoT initiatives or acquisitions in the short to medium term. ABI Research has assessed the acquisition’s implications to the overall smart home market in the ABI Insight,  “You must be a subscriber to view this ABI Insight.
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