Bluetooth-based tracking accessories maker Tile is to be acquired by location tracking service Life360, Tile announced today. Tile’s tracker competes head-to-head with Apple’s AirPods.
The deal, which will provide families and individuals across all life stages with a comprehensive cross-platform solution that enables the 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.
Tile says that when the acquisition is completed, it will be able to leverage Life360’s 33 million smartphone users to grow Tile’s Finding network by 10x.
Life360 operates what it calls a “family safety platform,” allowing family members to keep tabs on one another with tracking software on smartphones, primarily used by parents to track their children and teenagers, although it has raised privacy concerns.
The acquisition deal is valued at $205 million and is expected to close in the first quarter of 2022.