Well, raise your hand if you didn’t see this coming a mile away. Google, by way of Nest, is acquiring the popular video-monitoring hardware company, Dropcam. Don’t worry, you can wave at this product still. Though it might start flashing Google ads once it recognizes you in the near future.
Supposedly, Nest is making the purchase without any input from Google. Yeah, the company that owns the other says just do whatever. Well, if you wanted proof of a tech bubble, that’s like step 6 in the program. Not sure anyone is buying it considering Google’s sprint into the hardware business.
Once the deal is secured, Dropcam’s technology will be integrated into Nest’s products. Next generation hidden cameras. It’s a smoke detector and a camera. Facial recognition thermostat settings? Yes, my quest for ultimate laziness will be complete.
Nest’s Matt Rogers, who heads the engineering department, explained the acquisition in a blog post. He laid out a plan for Nest and Dropcam “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.”
There were the assurances that Google ads would not start popping up in video feeds. Though an ADT ad while you are watching your home get burglarized would be appropriate. Need renters insurance? You do now.
If you haven’t heard of either companies, you are missing out. Dropcam is the maker of Internet-connected home security system. The cameras can also be used as a baby monitor or to check in on your pets while you’re away. Nest is the maker of the stylish thermostat you see in stores, and a smoke detector that has been recalled. The wave function had to be disabled as a just in case.
Terms of the deal are being rumored at $555 million. I guess you need to make a $1-per year messaging app to break a billion these days.