The search giant announced Monday that it's buying connected device maker Nest Labs for $3.2 billion in cash. Nest, led by former Apple designer Tony Fadell, develops "smart" home
appliances like thermostats and smoke detectors that can program themselves and communicate with smartphones. Nest will maintain its brand name and continue to be led by Fadell, Google said, adding
that the deal will likely close "in the next few months."
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