January 14th, 2014
09:32 AM ET

Google Steps into Home Appliances Trade

Google is making another big bet on hardware, CNN's Christine Romans reports.

The search giant announced Monday that it's buying connected device maker Nest Labs for $3.2 billion in cash.

Nest, led by former Apple designer Tony Fadell, develops "smart" home appliances like thermostats and smoke detectors that can program themselves and communicate with smartphones.

Nest will maintain its brand name and continue to be led by Fadell, Google said, adding that the deal will likely close "in the next few months."

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