Tile is selling its Bluetooth tracker business to Life360 for $205 million. The company announced the deal in a press release earlier today.
The deal, which will provide families and individuals across all life stages with a comprehensive cross-platform solution that enables location-based finding of people, pets and things, is valued at $205 million and is expected to close in the first quarter of 2022. Tile will continue to operate with its own brand identity under the leadership of Tile CEO CJ Prober, who will also join the Life360 Board of Directors. The Tile team is expected to remain in place.
“Life360 is on a mission to simplify safety so families can live fully. With the acquisition of Tile, we will now be able to provide a unique and all-encompassing solution for finding the people, pets and things that families care about most,” said Chris Hulls, Co-Founder and Chief Executive Office of Life360. “This acquisition marks a key step forward towards Life360 achieving its vision of being the world’s leading platform for safety and location services. We are thrilled to welcome Tile to the Life 360 family.”
“This is a great day for Tile, our customers, and our employees,” said CJ Prober, CEO of Tile. “This acquisition not only brings together two incredible teams with complementary missions and values, it paves the way for us to jointly build the world’s leading solutions for peace of mind and safety. This is the next step in our journey, and I could not be more excited to continue leading our incredible team and to join the Life360 Board.”
Notably, the addition of Life360’s network of 33 million smartphone users is expected to increase the reach of Tile’s Finding Network by ~10x.
You can check out the latest Tile trackers here.
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