Tile, best known for its range of Bluetooth-based tracking accessories that compete with AirTags, announced today that it will be acquired by location tracking service Life360.
Tile will continue to operate as a separate brand under CEO CJ Prober, but Tile said the acquisition will allow it to tap into Life360's 33 million smartphone users and expand Tile's Find Network, its equivalent of Apple's Find Network that uses nearby devices to locate lost items, by 10 times.
Life360 has a "family safety platform" that allows family members to monitor each other through tracking software on smartphones. It is mainly used by parents to keep track of their children and teens, which has raised privacy concerns.
Through the acquisition of Tile, Life360 founder said Life360 will be able to provide a "full range of solutions" for locating people, pets and objects, providing comprehensive services for tracking and tracing objects and people across platforms.
Life360's Tile acquisition is valued at $205 million and is expected to close in the first quarter of 2022
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