Google’s Nest Labs Buys Dropcam For IoT Security

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Google’s Nest Labs Buys Dropcam For IoT Security

It looks like Google Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL)’s recent acquisition Nest Labs will be doing some acquiring of it’s own. Last Friday (June 20th), Nest Labs announced it had signed a deal to buy out connected camera maker Dropcam for $555 million.

Goldman Sachs Equity Research published a company update on Google on Monday, June 23rd, following the acquisition announcement. Goldman Sachs analysts Heather Bellini and colleagues view the deal as a good strategic fit for Google/Nest Labs. “We see the acquisition as adding strategic value to Google’s broad array of Internet of Things (IoT) initiatives.”

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Solidifying Google’s IoT initiatives

Google Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) has clearly decided it wants to be a major player in the nascent, but potentially revolutionary Internet of Things. Google’s IoT initiatives are to date primarily focused on home security and automation, but the tech titan also has its finger in the pie in a few related segments. Media and analyst attention to the subject has been drawn by the company’s more than $3 billion acquisition of