Dropcam, the home-monitoring camera startup, will be bought by Google Inc’s Nest Labs for about $555 million in cash, a technology news website reported on Friday.
The deal was signed on Friday and is yet to close, according to the report by Recode.net. (Recode: on.recode.net/1lGtOi8)
Nest confirmed the acquisition in a blog post on Friday, but did not specify the price tag. Neither Google nor Dropcam were immediately available for comment.