Tile, a company that pioneered consumer trackers, will be acquired by Life360, a company whose services help families keep tabs on each other’s safety.
The acquisition value of Tile is $205 million and should be finalized in the first quarter of 2022. Tile’s current CEO, CJ Prober, will remain at the helm and Tile will maintain its branding. (It is also expected to retain its staff.) Prober will join Life360’s board.
Life360 already has a widely used app that allows family members to track each other’s locations, report accidents, and more. By merging with Tile, Life360 can allow its users to track objects and pets as well. That’s partly because Life360 is a smartphone app for iOS and Android, but some physical objects—like your luggage or your dog—are better tracked by individual bits of hardware than your smartphone, which You generally keep on your person.
This sale gives Life360 access to technology built into the Tile Finding network, allowing users with Tile’s smartphone app installed to allow their phones to locate missing items nearby for others. Life360 already has 33 million smartphone users, which will increase the reach of the Tile Finding network by 10 times, the company claims. Life360 will also gain access to the 27,000 retail stores where Tile products are currently sold and more than one million devices that include Tile technology.
Tile began with a crowdfunding campaign and was announced as a revolutionary product when it was first unveiled; Since then it has gathered a lot of enthusiastic press coverage relative to the small size of its user base. But earlier this year, Apple introduced AirTag, a product that’s similar to Tile trackers but with additional technologies and the ability to take advantage of its network of more than a billion iOS users, calling it the Tile Finding Network. makes it much larger and thus more effective.
Tile has been vocally critical of Apple, claiming that Apple engaged in anti-competitive behavior by making changes to iOS, which take advantage of the tech giant’s own network, products and services compared to Tile. This acquisition by Life360 gives Tile the money and user base to keep afloat while it finds a way to beat (or at least keep up with) Apple in the locator-device game.
earning Press release It’s worth noting from Life360 that Life360/Tile Network will be platform agnostic. Currently, Apple’s competitor Find My Network is only available on iOS, but Apple plans to bring some support to Android in the future.