Google-owned smart home company Nest acquired home-monitoring startup Dropcam for $555 million. The acquisition is Google's move to expand its Nest smart home repertoire from thermostats and smoke detectors into cameras.
Nest, which was acquired by Google for $3.2 billion, makes a thermostat that learns your daily schedule and adjusts your house's temperature based on your behavior. Nest also makes a smart smoke detector. Dropcam, meanwhile, makes cameras that allow users to remotely monitor their homes, keeping tabs on pets, kids and valuables.
Dropcam and Nest will expand their product offering to "help shape the future of the conscious home," said Matt Rogers, Nest's founder and head of engineering, in a statement.
