A PYMNTS Company

US: Google gets easy pass on Nest acquisition

By  |  February 6, 2014

The same week Google avoided potentially billions in fines through a settlement with EU competition authorities, reports say US regulators are similarly delivering good news to the search giant as the Federal Trade Commission has swiftly approved of its latest acquisition.

The waiting period for Google’s buyout of Nest Labs has expired, meaning there are no competition concerns and the buyout can likely finalize more quickly than previously thought.

Google first announced earlier this year plans to acquire the tech firm that makes the Learning Thermostat and smoke detector Protect in a $3.2 billion deal. The buyout strengthens Google’s place in the smart house technology industry.

Since the merger announcement, rumors have swirled that Google may soon produce its own smart thermostat.

Full Content: CNet

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.