Press Release June 26, 2014

Goodwin Advises Dropcam in $555 Million Sale to Nest

A team of Goodwin Procter attorneys recently advised Dropcam in its $555 million sale to Nest Labs. Terms of the transaction were not disclosed.

Dropcam, founded in 2009 by Greg Duffy and Aamir Virani, is a cloud-based wifi video monitoring service with free live streaming, two-way talk and remote viewing capabilities. Its products are used for home security, baby monitors, pet monitors and small business security systems. The company is based in San Francisco, Calif.

Nest reinvents important but uninspired home products like the thermostat and smoke alarm, merging simple, attractive hardware with thoughtful software and services. Nest, based in Palo Alto, Calif., was sold to Google in January 2014 for $3.2 billion. Goodwin Procter advised a consortium of investors in Nest Labs in the company’s sale to Google.

The Goodwin team that advised Dropcam was led by partner Larry Chu and included partners Kelsey Lemaster (Tax), Jim Riley (IP), Scott Webster (ERISA), counsel Todd Hahn and Kirby Lewis (Antitrust), and associate Jeff Cheng and Jim Mattus (ERISA).

To learn more, please read the Dropcam blog post announcing the transaction.