Originally published at www.seclive.com
Filing in Focus: Google 8-K, January 13, 2014
Google Inc. (NASDAQ:GOOG) has announced it will purchase Nest Labs in a deal valued at $3.2B. The announcement provides no other details regarding the closing date of the transaction and more detailed information, but this move by Google is drawing much attention as this marks Google's entrance to home comfort devices like thermostats and smoke detectors. Google CEO Larry Page commented vaguely that Google is excited to bring greater experiences in homes around the world and intends to build on the success Nest Labs' founders have started. Nest Labs CEO Tony Fadell remarked that the company is excited to join Google and looks forward to making positive differences worldwide with Google's support. The transaction is estimated to close in the coming months and Tony Fadell will remain the head of Nest Labs and retain its own identity.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.