Google-owned Nest has announced that it has acquired. The purchase price is $555 million, according to both Recode and The Wall Street Journal. Dropcam, founded in 2009, makes home monitoring cameras. It has the credit of one of the popular WiFi surveillance cameras available on the market. The company has also released an advanced Pro version for $199 late last year.
Nest cofounder and head of engineering Matt Rogers said in a blog post that, “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. For now though, not much will change. Dropcam products will still be sold online and in stores. And Dropcam customers will still continue to use their Dropcam accounts.”