Life360 Deepens Foothold in Family Safety Space with Proposed Acquisition of Jiobit

Apr 26, 2021

Life360 (ASX:360, Financial) today announced the signing of a non-binding term sheet for the potential acquisition of Jiobit, the Chicago-based provider of wearable location devices for young children, pets, and seniors. The consideration for the potential acquisition is $37 million primarily in stock and debt, with the possibility that the price could increase to up to $54.5 million if certain performance metrics are achieved in the two full calendar years following completion of the deal. The potential acquisition would strengthen Life360’s position as the leading family safety platform and accelerate its entrance into fast growing new markets, including children under ten, the multi-billion dollar pet supplies and services, and the elder care market.

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