AirTag competitor Tile acquired by family safety company Life360

Tile, the company that has been competing with Apple's AirTag since its launche earlier this year, has been acquired by Life360.

In a press release, Life360 announced the acquisition, saying that it is valued at $205 million and that Tile will remain its own brand and its leadership and team will stay in place.

Chris Hulls, Co-Founder and Chief Executive Office of Life360, a family safety company, said that the acquistion will help forward the company's mission of becoming "the world's leading platform for safety and location services."

"Life360 is on a mission to simplify safety so families can live 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 about most. This acquisition marks a key step forward towards Life360 achieving its vision of being the world's leading platform for safety and location services. We are thrilled to welcome Tile to the Life 360 family."

CJ Prober, CEO of Tile, said that the company's joining of Life360 will enable both to "build the world's leading solutions for peace of mind and safety."

"This is a great day for Tile, our customers, and our employees. This acquisition not only brings together two incredible teams with complementary missions and values, it paves the way for us 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 be more excited to continue leading our incredible team and to join the Life360 Board."

Tile has been competing with Apple's AirTag since the company launched the item tracker earlier this year. With Life360, Tile is surely looking to further differentiate its product with additional family safety features that Apple does not yet offer with its own item tracker.