Tile To Be Acquired For $284 Million
Tile started as a crowdfunding concern and have recently announced that its Bluetooth tracking tag system is to be acquired for an impressive US$205 million by Life360, the company famous for its family located-tracking app.
The deal makes sense for both parties: a ‘Tile’ like product makes sense with Life360’s offerings, while Tile’s market dominance has all but been wiped out by Apple Tag, not to mention similar products from Google, Samsung, and Amazon, to name a few.
Tile’s VP Kirsten Daru told Congress last year when trying to stamp out the Apple Tag: “You might be the best soccer team, but you’re playing against a team that owns the stadium, the ball, and the league, and can change the rules when it wants.”
Given this, the Life360 deal is expected to hit no anti-competition boundaries, and will close in the first quarter of 2022.