Why Google's Nest Acquisition Should Worry iRobot
When Google acquired rugged robot maker Boston Dynamics last month -- its 8th robotics acquisition over the last year - iRobot CEO Colin Angle speculated Google may have been targeting commercial applications related to its self-driving cars.
The most likely end game for Google, he stated, was "low-hanging fruit" in package delivery. After all, Google would need robots to carry packages from the car to consumers' doors, and who better than Boston Dynamics and its incredible bevy of dynamically lifting, balancing robots to do so?
Meanwhile, iRobot has made no mystery of its intentions of ultimately bringing bots based on its AVA telepresence platform into our homes to serve as antonymous butlers.
But according to the Fool's Steve Symington in the following video, Google threw a wrench in Angle's speculation when it acquired smart-thermostat maker Nest this week for $3.2 billion. Specifically noting Nest is, at its core, yet another robotics company, Steve thinks this signals an unmistakable -- and, if you're iRobot, worrisome -- push by Google toward automating our homes.
To hear Steve's full take on what this means for both Google and iRobot over the long term, check out the video below.
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Steve thinks both iRobot and Google have many years of growth ahead of them, but that doesn't mean they're the only great growth stocks out there.
The article Why Google's Nest Acquisition Should Worry iRobot originally appeared on Fool.com.
Fool contributor Steve Symington owns shares of iRobot. The Motley Fool recommends iRobot. It recommends and owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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