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Google's acquisition of Nest wins FTC approval

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Nest Protect 1024px
Nest Protect 1024px

The US Federal Trade Commission has cleared the way for Google to purchase Nest for $3.2 billion in cash. After Mountain View announced the buyout earlier this year, Google stated it expected the deal to close in the next few months. The FTC has opted to grant Google an "early termination" to the transaction's review, creating an avenue for a sooner-than-expected end to the acquisition process.

Cleared ahead of schedule

Companies filing for a large-scale merger or acquisition are typically subject to a 30-day waiting period before the FTC and Antitrust division of the Department of Justice approve or deny the transaction. That waiting period allows the commission to review whether or not the deal potentially violates antitrust laws and request that the parties involved disclose information pertaining to the deal. Under the Hart-Scott-Rodino (HSR) Act, the FTC can grant early termination if they see no reason to take any action during the waiting period — something the search company just earned.

News of the FTC clearance comes as good news for Google, but there's almost certainly more to be done before Nest is fully in the fold. We've reached out to Google for comment.