Bluetooth tracking company Tile is selling its business to Life360 for $205 million. This move seems like an acquisition in order to compete with the likes of Apple, Samsung and others.
Life360 CEO Chris Hull says that “The combination of Life360 and Tile means safety just got a whole lot simpler for millions of families and individuals around the world.” The Bluetooth tracking company currently has over 440,000 customers and have sold more than 45 million Tiles.
The acquisition will be complete by the close of the first quarter of 2022. The acquiring company Life 360 is known as a “leading family safety platform.” The purchase of Tile will strengthen their family security business and as will provide enough funding to expand.
Tile recently announced its Ultra-wideband UWB-powered AR Tracking “Tile Ultra” To Rival Apple’s AirTags. This ultra-sleek device will be available in the early months of 2022.
This new tracking device looks exactly like the Tile Pro externally, with rounded corners, a built-in key ring and an almost oval shape.
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The tracking company boasts it’s the first tracking company to offer UWB compatibility on both iOS and Android. This tag uses Bluetooth radios to trigger its other network of devices to find roughly the location of an item.
Tile isn’t the first to offer UWB-powered tracking as Samsung’s SmartTag Plus and Apple’s AirTag have that functionality. Tile are however taking it up a notch with augmented reality for directional purposes on both iOS and Android.
Elsewhere, Life360 has acquired another tracking startup “Jiobit”, which specialise in making trackers for children and pets. Both acquisitions could increase the global market share of the tracking business.
Life360 will be looking to integrate the services of Tiles and Jiobit into its mobile app while offering some discounts too. Hull also said, “We’ll also start work on integrating our technologies so Tile devices, Jiobit wearables, and Life360 app customers will show up on a unified map – people, pets, and things all in one place.”
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