The time of year when companies are acquired on the right and left, surprisingly, Tile has now been acquired by Life360.
Tile is known for its track badges that were introduced in 2012 and have since become more common, especially after Apple released its Airtags which are the exact equivalent.
Tile has had to fight to get its products sold even though they sold well, but now Life360 has opened its eyes to the company and chooses to buy up Tile. Life360 is known for being best known for offering location-based service to family and friends.
Life360 and Tile will be merged into one business and their biggest competitors will then be Apple, Google and Samsung, it will be interesting to see what Life360 + Tile can achieve.
Although it is a lot of money, the sum was 205 million dollars for Tile, the goal is to have the deal completed in the first quarter of 2022.
Chris Hulls, CEO and founder of Life360 comments on the following acquisition:
”The combination of Life360 and Tile means safety just got a whole lot simpler for millions of families and individuals around the world. We’ll be bundling Tile devices as part of our Membership plans, and Tile will offer Life360 Membership benefits to its customers. We’ll also start work on integrating our technologies so Tile devices, Jiobit wearables, and Life360 app customers will show up on a unified map – people, pets, and things all in one place. ”