Nest the maker of the smart thermostat that allows you to remotely change the temperature via your iPhone, the company has recently acquired MyEnergy as per usual neither of the companies have disclosed the details of the deal. A press release said that the acquisition will help Nest reach its goal of helping its users understand and address energy consumption in the home environment.
MyEnergy which has just been acquired was founded in 2007, the startup company was originally called Earth Aid; the company developed algorithms. The algorithms collected and analyzed utility energy data, this acquisition could be a game changer and allow the service to dominate the market.
Nest will use MyEnergy to provide services for the energy providers, for example data on peak energy usage times and when the user is most likely to remotely turn their thermostat down using nest.
Nest was founded by a former Apple designer, the move to acquire the startup will allow the company to lock horns with market leader Opower. Nest announced last month a variety of energy services that its thermostats can provide data to energy companies.
Nest has had a lot of backing from various organisations such as Google Ventures and the singular backers who include Venrock, Kleiner Perkins. Whereas MyEnergy has backers that include the likes of Point Judith Capital and the Clean Energy Venture Group.
Source – Gigaom