Google buying Nest Labs for $3.2 billion «

    Google buying Nest Labs for $3.2 billion

    SAN FRANCISCO (MarketWatch) – Google Inc. /quotes/zigman/93888/delayed/quotes/nls/goog GOOG +0.62% on Monday said it is buying home automation company Nest Labs Inc. for $3.2 billion in cash. In a statement, Google Chief Executive Larry Page described Nest as a company that’s “delivering amazing products you can buy right now–thermostats that save energy and smoke/CO alarms that can help keep your family safe.” Nest will contnue to operate under co-founder Tony Fadell, Google said. Google shares were up 1% after-hours.