Google-owned Nest said on Friday that it has acquired San Francisco-based Dropcam, makers of home monitoring cameras, the Verge reports. Nest itself was acquired by Google in a $3.2 billion deal announced in January, but continues to be independently operated.
Dropcam's purchase price was $555 million, according to Recode. Privately, the company had raised $47.8 million, with the bulk of it from a $30 million round last July that was led by Institutional Venture Partners.
Nest sells smoke detectors and thermostats that are paid for upfront, but bringing on Dropcam brings a new dimension to its game plan. Dropcam has focused on selling cameras, and with it a cloud recording service that can record up to a month of video stored online. The video can be played back via browser or mobile apps.