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This article was published on May 7, 2013

Smart thermostat maker Nest acquires utility tracker MyEnergy to cozy up to energy providers

Smart thermostat maker Nest acquires utility tracker MyEnergy to cozy up to energy providers
Harrison Weber
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Harrison Weber

Harrison Weber is TNW's Features Editor in NYC. Part writer, part designer. Stay in touch: Twitter @harrisonweber, Google+ and Email. Harrison Weber is TNW's Features Editor in NYC. Part writer, part designer. Stay in touch: Twitter @harrisonweber, Google+ and Email.

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.

At the end of 2012, Nest launched in stores across Canada, including Lowe’s and Amazon. To learn about Nest’s German-based competitor Tado, head here.