Life360, Inc. (ASX:360) agreed to acquire Tile, Inc. for approximately $170 million on November 22, 2021. The consideration comprises $132.4 million in cash, up to $37.6 million of new Life360 Shares issued to the securityholders of Tile, conditional, in part, on Tile achieving certain financial hurdles and up to $35 million in retention awards for Tile employees, subject to performance requirements. Life360 will undertake a fully underwritten equity raising, comprising an Entitlement Offer and Institutional Placement which will together raise total gross proceeds of approximately $203 million which will be used to fund the cash consideration. Tile will continue to operate with its own brand identity under the leadership of Tile Chief Executive Officer CJ Prober, who will also join the Life360 Board of Directors. The Tile team is expected to remain in place and will join Life360. The deal is expected to close in the first quarter of 2022. Credit Suisse and Code Advisors acted as Life360's joint financial advisers. DLA Piper and Orrick, Herrington & Sutcliffe LLP acted as Life360's legal advisers. Jefferies LLC served as exclusive financial advisor to Tile and Fenwick and West LLP served as Tile's legal adviser.

Life360, Inc. (ASX:360) completed the acquisition of Tile, Inc. on January 5, 2021. The aggregate purchase consideration was $173.6 million, of which $158.0 million was paid in cash and $15.6 million paid in equity. The $15.6 million in equity was comprised of 780,593 shares of the Company's common stock valued on the date of acquisition and 534,465 shares of common stock contingent consideration which was promised upon reaching certain operational goals. Of the consideration transferred, $14.1 million in cash and 84,524 common shares were placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties.