Nest to Acquire Dropcam for $555 Million

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Nest is acquiring Dropcam for $555million, the companies announced Friday

The companies are two of the most high-profile manufacturers in the connected home market. Nest Labs, producers of the connected thermostats and smoke detectors, was acquired by Google earlier this year for more than $3 billion

Dropcam makes wifi-enabled home security cameras.

See also: Picking Sides: Will You Live in an Apple or Google Smart Home?

The $555 million deal was an all-cash acquisition, the Wall Street Journal reported.

"Before deciding to extend an offer to Dropcam, we spent a lot of time looking at camera companies and technologies around the world," Nest founder Matt Rogers said in a blog post announcing the deal Read more...

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from MashableKarissa Bell