Nest which had recently been acquired by Google, has purchased Dropcam, makers of the WiFi connected cameras used for home monitoring. According to re/code, the deal is said to be for $555 million.
Nest has confirmed the news, saying the transaction is being down outside of Google. Dropcam will now be part of Nest, giving them a product that should fit well within their portfolio of smarthome devices.
The company offers two products, the a Pro model which retails for $199 and the less expensive HD model, a lower resolution camera that sells for $149. Dropcam cameras allows remote access from a web browser or using their smartphone apps. You can monitor the cameras for free. Recording and DVR-like access requires a monthly or yearly subscription. For $99 per year, Dropcam offers up to a week of video saved in the cloud.
After the increasing privacy concerns after Google purchased Nest, the company issued a preemptive statement regarding customer data.