Nest is acquiring Dropcam for $555 million

dropcam

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.”

Rogers has assured that Dropcom will come under Nest’s privacy policy, which means that data won’t be shared with anyone, not even Google, without a customer’s permission. He also promised a deeper integration between Nest products and Dropcam. Now it remains to be seen how Dropcam will work in concert with Nest’s thermostats and smoke alarms. We can probably expect to see a more connected home solutions in the future with this deal.

SOURCE: NestDropcamRe/code

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About Seena Ajith 278 Articles
Hi guys, I am a technology blog writer, started of my career as a coder. I like following all current trends in technology, but specifically my interest is to cover everything about mobile phones. When not in front of computer, I will be either cooking or playing with my kids.