Apple’s AirTag Competitor Tile Gets Acquired by Location Tracking Specialist Life360 for $205 Million

Tile, who recently became the competitor of Apple tree thanks to the release of the company's AirTags, has been acquired by Life360. The acquisition annunciation came on Monday and will enable a cross-platform solution, enabling users to find and track lost items and pets over a bigger network.

$205 Million Bargain Is Expected to Close in the First Quarter of 2022

Details of the acquisition state that Tile volition retain its identity and go on to operate under CEO CJ Prober, who will also join Life360'south board of directions thanks to the $205 million deal. The announcement comes a day after Prober mentioned that AirTags continue to deliver unfair competition, though it was this very release that aided Tile in posting significantly high revenues. With the conquering, Prober says the following.

"This is a great mean solar day for Tile, our customers, and our employees. This acquisition non only brings together ii incredible teams with complementary missions and values, it paves the way for u.s. 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 exist more excited to go on leading our incredible squad and to bring together the Life360 Lath."

Life360's co-founder and CEO, Chris Hulls believes that the acquisition of Tile will provide a more effective solution for users to locate their missing items and pets.

"Life360 is on a mission to simplify safety then families tin can alive 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 virtually nearly. This acquisition marks a key footstep forward towards Life360 achieving its vision of beingness the world'south leading platform for safe and location services. Nosotros are thrilled to welcome Tile to the Life 360 family."

Life360 currently has 33 1000000 users and with Tile added to the existing squad, that reach is expected to increase considerably. Life360 will also take access to around 27,000 retail stores, where Tile products are currently being sold. Mayhap the goal would be to dethrone Apple'southward Find My network, which will be aided through an acquisition that took identify before Tile was in the motion picture and that was of Jiobit.

What goals do you think Life360 and Tile have for the future? Tell us down in the comments.

News Source: PRnewswire