Life on earth has changed forever as humans and their courageous robotic allies, the Autobots, must work together to protect the planet from the destructive forces of the evil Decepticons. At the headquarters of NEST (Networked Elements: Supporters and Transformers), tech sergeant Epps and captain Lennox both guard and assist cyberneticist Yoki Ishihara and the brooding Russian AI genius Petr Ivanov as they explore the differences between organics and bots. In the meantime, all around them, alliances fray, distrust grows, suspicions mount, and traitors come out of the shadows.Based on the description, it appears to covers some of the adventures that the Autobots, Epps and Lennox have as part of the newly formed United Nations related unit called NEST (Networked Elements: Supporters and Transformers) as seen on the Ironhide toy and some vehicles during filming. While not mentioned, it is probably safe to assume this novel takes place somewhere in that two year time frame between the movies. Not so hyper about what NEST stands for but at least now we know. As for whether the story is canon, my perspective is all tie-in stories are canon until a movie, TV series or a better story comes along to contradict it.
Optimus Prime, the powerful leader of the Autobots who is also part of NEST, is on the defense as battles flare up from Australia to Zimbabwe. But escalating Decepticon attacks will culminate in a final confrontation from which no one–man or machine–will emerge unscathed.
You can pre-order the book here and read the first chapter here. Thanks to Katie for the link.