HONEST INSTALL OF DALLAS, TX MAKES OFFER TO ACQUIRE NEST/DROPCAM: FAILS EPICALLY

Posted on by Tommy Schultz

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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.

A FRIENDLY TAKEOVER - Chris M. of Honest Install offers to acquire Nest labs in an all-cash deal
A FRIENDLY TAKEOVER – Chris M. of Honest Install offers to acquire Nest labs in an all-cash deal

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.

NEST ACQUISITION: Looks like we have reached our capital goal. A shout out to our angel investor and partner: CEDIA.
NEST ACQUISITION: Looks like we have reached our capital goal. A shout out to our angel investor and partner: CEDIA.

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.”

RAISING CAPITAL - In an effort to acquire Nest Labs, Honest Install sets out to raise sufficient capital with Megan Kellow of CEDIA standing by.
RAISING CAPITAL – In an effort to acquire Nest Labs, Honest Install sets out to raise sufficient capital with Megan Kellow of CEDIA standing by.

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

NEST ACQUISITION - After consulting PETA, it was determined that dyeing a Dalmatian yellow was not advisable. So Honest Install plans to relocate 'Spot', the Nest fire truck Dalmatian out of harm, to a nice ranch in the Midwest. Don't worry the farm is regarded as the "Four Seasons" for retired fire dogs...
NEST ACQUISITION – After consulting PETA, it was determined that dyeing a Dalmatian yellow was not advisable. So Honest Install plans to relocate ‘Spot’, the Nest fire truck Dalmatian out of harm, to a nice ranch in the Midwest. Don’t worry the farm is regarded as the “Four Seasons” for retired fire dogs…

 

NEST ACQUISITION - Jimmy & Chris show off the newest member of the Nest family the Dropcam, a cloud based, wireless home camera system. Don't worry it will soon be ours, how does Honest-cam sound?
NEST ACQUISITION – Jimmy & Chris show off the newest member of the Nest family the Dropcam, a cloud based, wireless home camera system. Don’t worry it will soon be ours, how does Honest-cam sound?

 

 

BEAR HUG - The Nest Labs team intensely (or not) listening to the acquisition pitch by Chris Manouel of Honest Install.
BEAR HUG – The Nest Labs team intensely (or not) listening to the acquisition pitch by Chris Manouel of Honest Install.

 

CONFIDENTIALITY - with the Non-Disclosure Agreements out of the way, we begin one-on-one discussions with Nest personnel on the the details of the possible acquisition.
CONFIDENTIALITY – with the Non-Disclosure Agreements out of the way, we begin one-on-one discussions with Nest personnel on the the details of the possible acquisition.

 

FLASHING THE CASH - a technique to let the other side know a serious offer is about to be sent down the pipeline, often referred to as "peacocking". Those California people can't resist cash
FLASHING THE CASH – a technique to let the other side know a serious offer is about to be sent down the pipeline, often referred to as “peacocking”. Those California people can’t resist cash

 

 

NEST ACQUISITION - with several hundred dollars in hand, we begin the tense and difficult dance - the Merger & Acquisition (M&A) process
NEST ACQUISITION – with several hundred dollars in hand, we begin the tense and difficult dance – the Merger & Acquisition (M&A) process

 

FAIR MARKET VALUE - the official offer is prepared and verified to be walked over to the Nest booth.
FAIR MARKET VALUE – the official offer is prepared and verified to be walked over to the Nest booth.

 

NEST ACQUISITION - Honorary CFO & legal counsel from CEDIA, Meagan Kellow and team verifies the legitimate gathering of the purchase funds.
NEST ACQUISITION – Honorary CFO & legal counsel from CEDIA, Meagan Kellow and team verifies the legitimate gathering of the purchase funds.

 

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Honestly Speaking Welcomes Aboard Veteran Reporter, Lisa Montgomery

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By: Michael Manouel Jr., Social Media

Honestly Speaking Is Proud to Welcome Our New Expert Guest Contributor!

Lisa Montgomery has been writing about whole home automation, smart home technology, and the electronic house for over fifteen years, and her award-winning articles have appeared regularly in many well-respected publications in the industry.

Lisa Montgomery, smart home expert/writer
Lisa Montgomery, Smart Home Technology Expert and Writer

We trust in her expertise, and her long, proven experience covering with insight and a keen eye the trending hot items in home automation and the modern smart-lifestyle today. She has gained extensive practical know-how reviewing many of the newest audio/video and connected home products, trying out first-hand the cutting-edge tech advances in the whole home automation and audiovisual constellation.

Expect to learn about the entire spectrum of technologies available for your home and how they can be incorporated to fit the needs of your household perfectly. Through years of reporting on high-tech homes, Lisa will be able to share tips on how to shop for, install, and get the most out of your high-tech investments.

We hope her articles will be helpful to you or in some way illuminating to the topics we discuss on this blog, and we also hope that you’ll join in on the conversation by way of the comment section!

We will be issuing her first post this Thursday on our Guest-Spot Day.

 

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Photo credit: CEPro

Honest Install Customer Spotlight: Scott Birnbaum

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By: Michael Manouel Jr., Social Media

Scott Birnbaum, Alumnus of The University of Texas at Dallas and Valued Honest Install Customer, Makes The News

Scott Birnbaum, of Recycled Textiles Co.
Scott Birnbaum, of Recycled Textiles Co.

In a recent UTD profile entitled “Finding Value in the Trash of Others Fuels Alumnus’ Business”, Mr. Birnbaum’s recycling company, Reclaimed Textiles Co., is true to the article’s headline by salvaging unsold clothing donated to charities into a usable product that doesn’t get stuck in landfills or thrown away carelessly.

Reclaimed Textiles Co. facility
Reclaimed Textiles Co.

Called “Royal Rags,” the end product is a box of that same old clothing meticulously inspected, sorted, and cut into rags which are then sold to anyone needing to clean up a mess, but usually to companies in the painting, janitorial, and oil & gas industries.

Reclaimed Textiles box press production
Reclaimed Textiles Box Press Production

The Dallas-based manufacturing company recycles some four million pounds of “trash” any given month. Any collectible items that may have fallen through the cracks are packaged and sold on eBay in their 150,000 square foot facility. And in turn, through his company, Mr. Birnbaum is able to contribute back to charities and non-profit organizations throughout the nation.

Reclaimed Textiles Distribution Center finished goods
Reclaimed Textiles Distribution Center For Finished Goods

We are proud to call Mr. Birnbaum one of our clients. Honest Install has very much the same philosophy on green-recycling. We also have a program to divert old, unwanted electronics, which may be harmful to the environment if not disposed of properly, from landfills and garbage dumps. We would like to wish Mr. Birnbaum the very best in all his future endeavors!

 

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Photo credit: www.reclaimedtextiles.com