The family security company Life360 announced this Tuesday the acquisition of Tile for 205 million dollars . The agreement, classified as the largest in the history of both companies, seeks to offer a wide range of location options after the boom generated by the arrival of Apple's AirTags.
Life360, which offers location services between family members, accident detection and chat integrated within its application, recently announced that it had surpassed one million paying customers. Its market valuation had exceeded one billion dollars and its intentions were to continue growing.
Earlier this year he entered the world of hardware for the first time. The company acquired Jiobit for $ 37 million , a company dedicated to developing and manufacturing portable tracking devices for children, seniors or pets. And now, in an attempt to continue developing that expansive strategy, it has acquired Tile.
Life360 remarks that its most recent acquisitions will help it develop its vision of being the “world's leading platform for security and location services.” For this they will begin to work on the integration of the different solutions. The idea is that the Tile and Jiobit devices appear on a unified map .
Life360 and Tile, a more complete solution
Credit: Lilfe360 With the combined service, Life360 envisions that customers can not only locate their family members, but also items such as wallets, keys, remote controls, and more. “We will include Tile as part of our membership plans, and Tile will offer Life360 membership benefits to its clients,” says the firm.
The deal, expected to be completed in the first quarter of 2022, states that Life360 will be able to push its new suite of services to more than 27,000 retailers offering Tile devices. You will also benefit from the agreements between Tile and other companies that use its technology.
Life360 CEO CJ Prober acknowledges that since the launch of the AirTags, his Find My Friends app has experienced triple-digit growth rates . They believe that this dynamic is just beginning, so together with pioneers like Tile they believe they can believe even more.
