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USA TODAY - Shares of Google are up slightly in pre-market trading Tuesday after the company announced a massive deal to acquire smart thermostat maker Nest.
Google stock is up 1.25% to $1,136.98, one day after the company revealed a $3.2 billion deal to buy Nest. The startup led by Tony Fadell, who helped create the iPhone and iPod for Apple, launched the Nest thermostat in 2011, followed by a smart smoke and carbon monoxide detector last year.
"Nest will continue to be Nest, with its own distinct brand identity," said Fadell in a blog post published after the deal was announced. "We will continue to reimagine and reinvent the unloved products that proliferate in our homes, just as we have since we started."
This is the second huge acquisition in as many years for Google. Last year, the tech titan scooped up Waze, the socially-driven maps service based in Israel, for $1 billion.
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