Google's Nest to buy Dropcam for $555M

|By:, SA News Editor

Google's (GOOG) Nest Labs agrees to buy video monitoring and security startup Dropcam for $555M, in a push to become the dominant operating system for connected devices in and around the home.

Nest, which makes smart thermostat and smoke alarms, will work with Dropcam to "reinvent products that will help shape the future of the conscious home," Nest's Matt Rogers says.

The acquisition may stir concerns about privacy, but Rogers says Dropcam will come under Nest's privacy policy, which means data from the monitoring service won't be shared with GOOG or any other company without a customer's permission.

Nest was bought by GOOG earlier this year for $3.2B.