Nest, the company behind a smart, internet-connected thermostat, has acquired utility bill tracking service MyEnergy for an undisclosed amount. This news follows the appointment of a new CFO for Nest: Tesla’s Tom vonReichbauer.
While the acquisition of MyEnergy will see new talent make its way into the thermostat company, it’s clear that Nest’s motives lie in MyEnergy’s connection to energy providers.
Nest details that it believes this acquisition will accelerate “Nest’s services for energy providers, giving them a cost-effective way to share data with their customers.”
In addition, Nest founder and CEO Tony Fadell shares that “bringing MyEnergy into the Nest family” will help the company give “customers more in-depth access and analysis of their energy usage.” That in mind, Nest may also have its sights set on expanding beyond your energy bill.
Given that MyEnergy also has experience in tracking gas and water usage, this deal may be a sign that Nest will soon move into additional markets.