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Life360 To Acquire Finding Technology Provider Tile
Wednesday 24 November 2021

US-based family safety platform Life360 plans to acquire finding technology provider Tile, the company said.

The deal provides a cross-platform solution that enables location-based finding of people, pets and things. It is valued at USD 205m and is expected to close in 1Q22.

Tile will continue to operate with its own brand identity under a leadership of Tile CEO CJ Prober, who will also join the Life360 board of directors. The Tile team is expected to remain in place.

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.

This is further enhanced by Life360's recently announced acquisition of Jiobit, which makes cellular and GPS-based devices to easily locate pets and young children in real time.

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 33m smartphone users is expected to increase the reach of Tile's Finding Network by ~10x.

Both companies have significant paid subscription services, and the acquisition is expected to increase Life360's paid subscriber base by about 45% to around 1.6m people.

Credit Suisse and Code Advisors acted as Life360's joint financial advisers. DLA Piper and Orrick, Herrington and Sutcliffe LLP acted as Life360's legal advisers. Jefferies LLC served as exclusive financial advisor to Tile and Fenwick and West LLP served as Tile's legal adviser.

Life360's core offering, the Life360 mobile app, is an app for families, with features that range from communications to driving safety and location sharing.

Life360 is based in San Francisco and had more than 33m monthly active users as at June 2021, located in more than 195 countries.
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Date Published: 24/11/2021

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