Natalie Parkinson
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Google is acquiring Dropcam for $555 million

Google Inc.’s Nest Labs is acquiring Dropcam Inc. for $555 million to boost its offerings for the connected home.

The deal will be in cash and subject to adjustments, Nest said in a statement yesterday. Dropcam makes in-home cameras that can be checked from a smartphone anywhere in the world, an offering that would broaden Nest’s product line-up into home security. Nest sells digital thermostats and smoke alarms that can also be checked and adjusted remotely from mobile gadgets.