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.
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.”
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.