Google Inc.’s share price up, Nest Labs unit opens platform to outside developers, making homes more connected

The Nest Labs unit of Google Inc. revealed that it is implementing a program in order to encourage companies to produce a variety of services and devices that will be compatible with the digital thermostat of Nest Labs, as well as with other products developed by it.

The Vice President of engineering at Googles Nest Labs – Mr. Matt Rogers said in the statement, which was cited by Bloomberg: “The Nest Learning Thermostat and Nest Protect alarm are already helping people save energy, stay comfortable, and improve home safety – but that’s only the beginning. Our goal has always been to bring this kind of thoughtfulness to the rest of your home and life.”

The division of Google Inc. is opening new platform to outside developers. This is considered a big step of the developer to consolidate its positions on the highly-competitive market of Internet-connected devices. By allowing other developers to create products that communicate with its Internet-connected devices, Nest Labs would literally open for various possibilities and a great selection of applications and services.

Nest Labs also revealed in its statement that companies such as Daimler AG, Chamberlain Group Inc. and Whirlpool Corp. have signed on as partners. In addition, it also became clear that more than 5 000 developers have already claimed to be interested in working in collaboration with Nest and developing applications for its products.

After being purchased by Google Inc. in February this year, Nest Labs has been currently focused on investing its efforts in the devlopment of products that would become a central hub inside homes. The statement of the new developer program of the unit comes at a time when Nest has just revealed that it intends to acquire the home-video security company Dropcam Inc. in a deal estimated at 555 million dollars.

Google Inc. was 1.37% up to close at 574.29 dollars per share yesterday, marking a one-year change of +31.92%. according to the information published on CNN Money, the 40 analysts offering 12-month price forecasts for Google Inc. have a median target of 658.50, with a high estimate of 750.00 and a low estimate of 525.00. The median estimate represents a +16.56% increase from the last price of 564.95.