Does Nest have a large amount of patents under their belt for their products? It could be similar to when Google bought Motorola, and everyone was saying it was mainly for the patent portfolio. (That being said...Motorola has done some great stuff since being brought under the Google umbrella, so it ended up being more than that.)
EDIT: Doh. This post was sitting for a while before I hit submit, and Rathji and Azure already covered exactly what I was thinking!
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