Tile, the company famous for its Bluetooth tracking gadgets, is selling itself to Life360 for $ 205 million. The move comes just six months after Tile was forced to face its toughest competition to date – Apple’s popular AirTag.
Life360, which offers a family security service, said the Tile acquisition will allow it to “provide a unique and all-inclusive solution for finding people, pets and things.” The deal is expected to close in the first quarter of 2022.
Tile becomes part of Life360
Tile was launched back in 2013 after raising $ 2.6 million from a successful crowdfunding campaign. At the time, Bluetooth tracking devices were in their infancy, and Tile was one of the first to offer simple, affordable tracking brands.
Eight years later, Tile now faces competition from much larger brands like Apple and Samsung. And the Cupertino’s AirTag, which costs just $ 29, works much more smoothly with its own hardware and its Find My ecosystem.
It’s not clear how much of an impact AirTag has had on Tile since its arrival back in April, but it believes that with backing from Life360, it could be much more competitive. It’s also going to mean big improvements for Life360.
A great day out for Tile customers
“This is a great day for Tile, our customers and our employees,” said Tile CEO CJ Prober, who will retain his position. “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 security.”
“Life360 is on a mission to simplify security so families can live fully. With the acquisition of Tile, we will now be able to deliver a unique and all-inclusive solution to find the people, pets and things that families hold most of, ”said Chris Hulls, co-founder and CEO of Life360.
Tile will continue to operate with its own identity during Life360, and the Tile team is expected to remain in place. So if you’re a Tile user, you’ll probably not see any major changes – at least in the beginning.