After announcing that it had acquired smart thermostat maker Nest for $3.2 billion in cash last month, Google’s purchase was of course still subject to the normal regulatory approvals. Today the deal has finally been made official with the FTC granting approval of the acquisition through an “early termination” of the commission’s review of the purchase. It looks like the FTC has no concerns over the deal violating antitrust laws so Google shouldn’t have any issues closing the deal.
SourceGoogle’s agreement to buy Nest Labs has been cleared by U.S. antitrust regulators, possibly paving the way for an early closure of the transaction. The review into the transaction was granted “early termination,” according to an update from the U.S. Federal Trade Commission. Google said last month it was paying $3.2 billion in cash to acquire Nest, a maker of smart smoke alarms and thermostats, in what is seen as a bid by the Internet giant to expand into the connected home market. The company said the transaction was expected to close in the next few months and was subject to customary closing conditions, including the receipt of regulatory approvals in the U.S.
