Google and Nest Acquire Dropcam for $555 Million

In another development in the tech movement known as the "Internet of Things," Nest Labs—which was acquired by Google earlier this year—has announced its intention to acquire Dropcam Inc. for $555 million.

Founded in 2009, San Francisco-based Dropcam makes surveillance cameras that homeowners can place in their houses for recording and live-viewing on their smartphones and computers. The acquisition broadens Nest's suite of offerings for the connected home, which already includes smart thermostats and smoke alarms.

The Wilson Sonsini Goodrich & Rosati team that is representing Nest and Google in the deal includes:

Corporate/M&A
David Segre
Denny Kwon
Aby Castro
Colin Murray

Intellectual Property
Suzanne Bell

Tax
Eileen Marshall
Myra Sutanto Shen

Employee Benefits & Compensation
David Thomas
Brandon Gantus
Christa Sanchez
Rebecca Stuart

For more information, please see the Nest press release.