TweakTown
Tech content trusted by users in North America and around the world
5,933 Reviews & Articles | 38,222 News Posts

Dropcam purchase cost Google Nest Labs $555 million says report

Google's Dropcam purchase cost it over half a billion dollars according to a new rumor

| Business, Financial & Legal News | Posted: Jun 23, 2014 11:00 am

A new rumor was making the rounds late last week that has to do with Google Nest Labs and the purchase of Dropcam. Dropcam is a company that sold Wi-Fi enabled streaming cameras that could be used for surveillance. Both Google and Dropcam acknowledged that the purchase had been made on Friday.

 

TweakTown image news/3/8/38615_2_dropcam_purchase_cost_google_nest_labs_555_million_says_report.jpg

 

Rumors circulating around the web suggest that Google paid $555 million to purchase Dropcam. If the $555 million rumor is true, it means that combined with the purchase of Skybox for $500 million, Google has spent over a billion dollars in recent weeks on acquisitions.

 

The purchase earlier this year of Nest cost the web giant $3.2 billion. Google is spending massively on expanding its market with new products and services. The purchase of Dropcam is speculated to be a big move by Google to get into the home automation market. Dropcam is a product that will fit well with Nest's other offerings.

NEWS SOURCES:Esbtrib.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases