tech:

taffy

Google Buys Nest For $3.2B

nest-google

Google has entered into an agreement to buy Nest Labs for $3.2 billion. Nest is a company started by former Apple engineers, and works on reinventing everyday household gadgets like thermostats and smoke alarms. Tony Fadell, Nest’s co-founder and CEO, will continue to head Nest, and the company will retain its brand identity.

Larry Page (CEO, Google):  We are excited to bring great experiences to more homes in more countries and fulfill their dreams!

Nest and Google’s products are expected to have some integration in the future. Matt Rogers, co-founder and VP of Engineering with Nest, says the company will continue to support iOS as well as Android and modern web browsers. Nest customer data will not be shared with Google, and customer information will be used to providing and improving Nest’s products and services only, maintains Mr. Rogers.

The transaction is subject to customary closing conditions, and expected to close in the next few months. 

[Image courtesy: Nest]

You may also be interested in:

Just in

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.