After being acquired by Google for $3.2 billion, Nest has this week made an acquisition themselves, revealing that they had acquired the video monitoring company, Dropcam for $555 million, but still set to close and is subject to regulatory approvals.

Currently the company provides users of its service with home monitoring and security solutions, allowing them to monitor their home from anywhere around the world.

Once the deal has been closed, the company will come under the privacy policy of Nest themselves, allowing everything to come under the leadership of Nest themselves.

Upon the announcement, Nest’s founder and head of engineering, Matt Rogers said the following:

We have some exciting news to share: Nest is acquiring Dropcam. Although this was a big decision for us, it wasn’t a difficult one to make. Before deciding to extend an offer to Dropcam, we spent a lot of time looking at camera companies and technologies around the world. And I can say without a doubt, Dropcam has the best products, services, and customer experience in the business.

Once the deal closes, we’ll incorporate Dropcam into how we do business at Nest. That includes how we handle everything from customer support to customer privacy. Like Nest customer data, Dropcam will come under Nest’s privacy policy, which explains that data won’t be shared with anyone (including Google) without a customer’s permission. Nest has a paid-for business model and ads are not part of our strategy. In acquiring Dropcam, we’ll apply that same policy to Dropcam too.

The deal will also include Dropcam’s three products, including the normal Dropcam, the Dropcam Pro and the Dropcam Tab, all of which allows users to monitor their home in various manners, for various prices. The Dropcam is priced at $99, and the Dropcam Pro is $199.

The Dropcam Tab is currently up for pre-order so doesn’t have a price.

Source: Nest

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