How & Why Did Nest Acquires Dropcam For $555 million; What Lies Ahead For Customers?
Google’s recent acquisition Nest has bought #-Link-Snipped-#. For the uninitiated, Dropcam is a Silicon Valley startup founded by Greg Duffy and Aamir Virani that manufacturers IP cameras and offers video streaming, distributed cloud storage and mobile and web apps to go with it. Both the companies went on their official blogs to make the acquisition public. Like our previous coverage of the How & Why Did Facebook Acquire Oculus VR For $2 Billion; What is The Future For Oculus ? this time too we shall go into depth and help you understand how this deal was made and what implications does it have for customers.
How & Why Was This Deal Made?
Nest’s announcement gives us a fair idea why it wanted to acquire Dropcam. In the #-Link-Snipped-# Nest’s founder and head of Engineering, Matt Rogers says that the company was looking for camera companies and technologies throughout the world that that could work in tandem with the company’s Nest Labs Smart Smoke Detector Sends Message To Your iOS Or Android Device . After looking around for quite some time they found Dropcam. Just like their company they were helping people keep an eye on homes from remote locations. So they decided to start talks with the Dropcam to acquire it.
The intricate details of the deal however remain scant, Google and Nest Acquire Dropcam For $555 Million • TechCrunch has unearthed that the entire $555 million is to be paid in cash.
Point To Note: It is interesting to note that Nest Labs adoptive parent, Google was not involved in making this deal. In an interview with #-Link-Snipped-# Matt said that they have undertaken this acquisition on its own and outside of Google’s purview.
What This Deal Means For Customers?
According to Nest, most customers who are currently using Dropcam products would have wanted this deal to happen. #-Link-Snipped-# to sell its products and cloud based recording services. If you were worried that Google might snoop on your cloud based recordings, don’t fret. Nest states that just like its customer data, Dropcam customer database will be under the company’s privacy policy and no data will be shared with Google without a customer’s permission. In the future we can expect to see some new products too.
While we have covered most of the required information you can dig into the links in the article as well as read an amusing story about the inspiration behind #-Link-Snipped-# if you are thirsty for more details.
How & Why Was This Deal Made?
Nest’s announcement gives us a fair idea why it wanted to acquire Dropcam. In the #-Link-Snipped-# Nest’s founder and head of Engineering, Matt Rogers says that the company was looking for camera companies and technologies throughout the world that that could work in tandem with the company’s Nest Labs Smart Smoke Detector Sends Message To Your iOS Or Android Device . After looking around for quite some time they found Dropcam. Just like their company they were helping people keep an eye on homes from remote locations. So they decided to start talks with the Dropcam to acquire it.
The intricate details of the deal however remain scant, Google and Nest Acquire Dropcam For $555 Million • TechCrunch has unearthed that the entire $555 million is to be paid in cash.
Point To Note: It is interesting to note that Nest Labs adoptive parent, Google was not involved in making this deal. In an interview with #-Link-Snipped-# Matt said that they have undertaken this acquisition on its own and outside of Google’s purview.
What This Deal Means For Customers?
According to Nest, most customers who are currently using Dropcam products would have wanted this deal to happen. #-Link-Snipped-# to sell its products and cloud based recording services. If you were worried that Google might snoop on your cloud based recordings, don’t fret. Nest states that just like its customer data, Dropcam customer database will be under the company’s privacy policy and no data will be shared with Google without a customer’s permission. In the future we can expect to see some new products too.
While we have covered most of the required information you can dig into the links in the article as well as read an amusing story about the inspiration behind #-Link-Snipped-# if you are thirsty for more details.
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