Google Nest buys home security startup Dropcam for $555 million

Posted on Jun 21 2014 - 7:15am by Abby Smith

Google’s (NASDAQ: GOOG) Nest labs is now looking forward to settle a deal with a home security startup. Nest labs has been reported to acquire Dropcam, a home security startup, for about half a million dollars in cash. Dropcam provides home security solutions, including security cameras which can be placed anywhere in the house to do the live streaming.

Dropcam itself explains its origin, it says, “Aamir and I founded Dropcam in 2009 with a simple mission — to help you know what goes on at home when you aren’t there. We had both seen our dads struggle with “IP cameras” and traditional security cameras that were some combination of hard to use, expensive and low quality.”

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Nest labs is probably looking forward to increase its product line by introducing home security devices in the catalog. The company will produce new home security solutions which will be backed up by the flawless network from the Internet giant.

Dropcam said, “Nest and Dropcam are kindred spirits. Both were born out of frustration with outdated, complicated products that do the opposite of making life better. After numerous conversations with Nest Founders Tony and Matt, it was clear that we shared a similar vision. Nest cares as much about customers, privacy and product experiences as we do. Our products and technologies are a natural fit and by joining up with Nest we can fully realize our vision.”

“Dropcam’s next chapter will be as part of the Nest family. You’ll be amazed at what we can do together. We can’t wait to start”, the company added.

Except providing Internet services, Google is now making the move in the world of “Internet of things”. First the acquisition of Nest and now the Dropcam opens of whole new world of the opportunities for the Mountain View giant.