Google’s Nest division pays $555m for Dropcam home camera security firm

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Google’s Nest division has announced the purchase of home video monitoring firm Dropcam for $555m, in a move that is bound to have security and privacy advocates worried.

Google bought Nest earlier this year in a deal worth $3.2bn in a move that saw the search and advertising giant looking to take a slice of the connected homes market, which is expected to grow massively driven by the Internet of Things revolution.

Nest’s purchase of Dropcam fits with this strategy as it brings more home hardware into the Nest portfolio, under Google, as Matt Rogers, Nest’s founder and head of Engineering, explained in a blog post about the deal.

“Before deciding to extend an offer to Dropcam, we spent a lot of time looking at camera companies and technologies around the world. And I can say without a doubt, Dropcam has the best products, services, and customer experience in the business,” he wrote.

“In a matter of a few short years, their team has managed to create products that change how people interact with their homes. So naturally, we couldn’t help but feel our companies would be a good match.”

Rogers moved to reassure existing users of Dropcam that the acquisitions would not open them up to endless advertising from Google, claiming only users who gave permissions would share their data with the firm.

“Like Nest customer data, Dropcam will come under Nest’s privacy policy, which explains that data won’t be shared with anyone (including Google) without a customer’s permission,” he said.

“Nest has a paid-for business model and ads are not part of our strategy. In acquiring Dropcam, we’ll apply that same policy to Dropcam too.”

Dropcam’s CEO Greg Duffy welcomed the deal in a post on the firm’s website, saying it was the ideal fit for as it seeks to grow.

“Nest and Dropcam are kindred spirits. Both were born out of frustration with outdated, complicated products that do the opposite of making life better,” he said.

“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 realise our vision.”

More about Dropcam can be seen in the video below.

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21 June 2014 | 8:31 am – Source: v3.co.uk
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