During a trip to CEDIA 2014 (the largest industry trade-show for Home Entertainment, Automation & Audio/Video) set in Denver, CO., Honest Install in a daring and spontaneous attempt, offered to acquire Nest Labs, the 3.2 Billion dollar home automation jewel of Palo Alto, CA.
According to eye witness accounts the events unfolded as such:
Honest Install – a Dallas/Ft. Worth based Home Technology and Commercial A/V provider, and a Nest Certified Professional Installer, decided to make an all-cash takeover bid aimed directly at Nest Labs.
Fresh from a visit to the CEDIA cash booth, strapped with cold hard bread and AMEX gift cards Chris Manouel, CEO and founder of Honest Install approached David Stacey – North American Sales Leader of Nest Labs with the offer:
Mr. Manouel then displaying what was only referred to by onlookers as a “fat stack” of cash approached the Nest booth and exclaimed without hesitation: “We want to purchase Nest, its intellectual property and all of its assets”, to which Mr. Stacey of Nest was overheard to reply with: “Thanks, I think were good where we’re at.”
Although Mr. Manouel was quickly turned down, he remains highly optimistic:
“We have a synergy, culturally and on a business level with a brand like Nest. We love what they do and what they are all about and we will continue to sell and install the Nest Smart Learning Thermostats, the Nest Protect and we are very excited about the Dropcam products and how they can benefit our customers.”
Neither David Stacey nor Nest CEO Tony Fadell could be reached for further comment.
About Honest Install
Honest Install is one of Dallas/Ft. Worth’s premier Home Entertainment, Smart Home Automation & Commercial
Audio/Video Installers. Honest provides a wide range products and solutions to the residents and businesses of DFW – Dallas/Ft. Worth and surrounding. With a heavy emphasis on the customer experience while continually providing value for customer’s, Honest Install is one of DFW’s fastest growing Home Technology outfitters. For more information please visit: www.honestintsall.com
About Nest Labs
The creator of the world’s first learning thermostat, Nest Labs is focused on reducing home-energy consumption. The Nest Learning Thermostat learns human behaviors and preferences, automatically adjusting the temperature so you can stay comfortable while saving energy and money. Nest Labs is privately funded by Kleiner Perkins Caufield & Byers, Google Ventures, Lightspeed Venture Partners, Shasta Ventures, Generation Investment Management and Intertrust. For more information, visit: www.nest.com