Nest to acquire Dropcam for $555 million

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Today Nest announced that they would be purchasing IP camera company Dropcam for a whopping $555 million. The purchase of Dropcam is apparently happening without the assistance of Nest’s parent company, Google, and Dropcam will be incorporated into the Nest brand.

Dropcam has become known for creating WiFi surveillance cameras, and released a Pro version of their camera last year for $199. Dropcam also provides a service to allow users to see what their camera is seeing via the web or a mobile app. We don’t know just yet how the cameras will be incorporated into Nest, but it will surely be interesting!

Source: Nest and Dropcam