Shortly after a report revealed that Google may be interested in purchasing home-surveillance camera maker Dropcam, the Search giant has snatched up the company for a cool $555 million – well, technically it’s Nest that bought Dropcam, but Nest itself is one of Google’s most recent purchases, a deal worth $3.2 billion.
Nest revealed it looked at many other camera companies before deciding to acquire Dropcam, choosing it because it has the “best products, services and customer experience in the business.”
It’s not clear what the two companies will work on in the future, but existing Dropcam products will continue to be available in stores just like before. “Eventually, the plan is for us to work together to reinvent products that will help shape the future of the conscious home and bring our shared vision to more and more people around the world,” Nest added.
“Nest and Dropcam are kindred spirits. Both were born out of frustration with outdated, complicated products that do the opposite of making life better. After numerous conversations with Nest Founders Tony and Matt, it was clear that we shared a similar vision. Nest cares as much about customers, privacy and product experiences as we do. Our products and technologies are a natural fit and by joining up with Nest we can fully realize our vision,” Dropcam said on its blog about the deal.