Family safety platform Life360 are to acquire tracker company Tile for $205 million, with the deal 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.
“Life360 is on a mission to simplify safety so families can live fully. With the acquisition of Tile, we will now be able to provide a unique and all-encompassing solution for finding the people, pets and things that families care about most,” said Chris Hulls, Co-Founder and Chief Executive Office of Life360.
“This acquisition marks a key step forward towards Life360 achieving its vision of being the world’s leading platform for safety and location services. We are thrilled to welcome Tile to the Life 360 family.”
Combining the finding power of Life360 and Tile will result in:
A complete family safety experience for consumers
The acquisition will create the only vertically integrated, cross-platform solution of scale that enables families and individuals to live life fully, by keeping the things they care about safe and connected. The combined service will bring together world class software and finding capabilities for people, pets and things in a unified platform.
Individuals and families will be able to tap into Life360’s flagship mobile app, a market leading app for families with features that range from communications to driving safety and location sharing. Additionally, people will be able to seamlessly leverage Tile’s bluetooth-enabled finding devices trackers, which can equip nearly any item — such as wallets, keys or remotes — with location-based finding technology.
Tile’s technology is also embedded in over 50 different third-party devices, ranging from wireless earbuds and headphones to laptops to retainer cases to dog collars.
Life360’s global footprint will significantly expand the reach of Tile’s Finding Network, which helps users find lost items when they are out of bluetooth range. The addition of Life360’s network of 33 million smartphone users is expected to increase the reach of Tile’s Finding Network by ~10x.
Accelerated company growth and international expansion
The acquisition will accelerate both companies’ international growth plans. Both Life360 and Tile are platform agnostic — meaning they work on both iOS and Android — offering an additional competitive advantage, especially in Android-leading international markets.
Life360 will also now have access to consumers through over 27,000 brick and mortar stores where Tiles are sold, and the over one million third party devices on which the Tile technology has been activated.
Both companies have significant paid subscription services, and the acquisition is expected to increase Life360’s paid subscriber base by about 45% to around 1.6 million people.
Listed on the Australian Securities Exchange since 2019, Life360’s momentum in recent years, including the Tile acquisition, will help it pursue additional opportunities.
“This is a great day for Tile, our customers, and our employees,” said CJ Prober, CEO of Tile.
“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 safety.
This is the next step in our journey, and I could not be more excited to continue leading our incredible team and to join the Life360 Board.”
