Nest acquires home automation startup Revolv
Nest Labs has acquired home automation device maker Revolv but the terms of the deal have not been disclosed yet. Google acquired Nest Labs earlier this year for $3.2 billion to push forward with its plans for home automation and connectivity among devices.
Boulder-based Revolv sells hardware and also provides software for home automation. Revolv started selling Revolv Hub for $299 on Amazon.com but the product has not been able to generate enough of sales volume.
In an official post, Nest announced, “Revolv is now officially a Nest company. Their experience connecting devices around the home will help us continue to grow.”
Apple and Samsung have been pushing ahead with their plans for the home automation sector. Technology companies are treating home automation as a serious business as Samsung recently acquired Revolv competitor SmartThings for $200 million.
Revolv (previously known as MobiPlug) raised $6.7 million in venture capital and the team underwent 2012 TechStars startup program.
Earlier in June, Nest acquired Dropcam Inc. for $500 million.
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