Google’s Nest Labs Acquires Cloud Home Video Monitoring Outfit, Dropcam for $US555 million
Google’s home automation subsidiary Nest Labs will buy domestic video-monitoring company Dropcam, which makes cloud-based security cameras, for $US555 million in cash.
According to reports, Nest will integrate Dropcam into its line of smart-home products, which includes the Protect smoke detector and the Learning Thermostat.
Following its acquisition by Google, Nest has ballooned from 130 employees at the end of 2012 to more than 460 this year. Dropcam will relocate from its San Francisco office to Nest's Palo Alto California head office.
Dropcam was founded in 2009 by former Axis Communications engineers Greg Duffy and Aamir Virani and has raised $47.8 million in venture capital funding.
"The teams are very well aligned and we love the product," Rogers, Nest's acting vice president of engineering, told Recode. "We both think about the entire user experience from the unboxing on. We both care about helping people stay connected with their homes."
Dropcam’s solution incorporates integrated hardware and software based around 3 products: the $149 Dropcam, $199 Dropcam Pro, and $29 Dropcam Tab. All 3 devices are aimed at helping customers monitor home activity through motion sensors and video recordings.
The Wi-Fi-enabled Dropcam and Dropcam Pro allows users to access the camera feeds and converse remotely using the company's mobile app, while the camera-less Tab can be placed on windows and doors to monitor opening and closing and other types of motion.