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Google-owned smart home company Nest has agreed to buy video monitoring company Dropcam for $555 million as an effort to further indulge into the everyday home.
The news was announced Friday afternoon. The deal will let Nest acculmulate more information related to their users behavior and how they can further improve their own products.
Nest, which was acquired by Google in a deal, announced in January for $3.2 billion, so far makes a thermostat that learns your daily schedule and adjusts your house’s temperature based on your behavior. Nest was founded by former Apple Inc. iPod designer Tony Fadell and Mr. Rogers, also a former Apple designer.
Dropcam, a company that’s been making Internet-connected home monitoring cameras for the past five years. Dropcam sells two variations of cameras, a $150 and $200 version. They also host an optional cloud service for $99 a year. Dropcam was founded in 2009 after CEO and cofounder Greg Duffy wanted to come up with a way to see who was letting their dog poop on his father’s yard.
“Eventually, the plan is for us to work together to reinvent products that will help shape the future of the conscious home and bring our shared vision to more and more people around the world,” Nest co-founder and head of engineering Matt Rogers said, adding that “for now though, not much will change.”
“Our companies actually have a lot in common,” Rogers said. Dropcam’s “team has managed to create products that change how people interact with their homes,” he added.
Rogers also promised tighter integration between Nest products and Dropcam.