https://techcrunch.com/2021/04/27/family-tracking-app-life360-to-acquire-wearable-location-device-jiobit-for-37m/

Popular family tracking app Life360 is investing in hardware. The company this morning announced the $37 million acquisition of Chicago-based Jiobit, the maker of a wearable location device designed for use by families with younger children, pets, or seniors. The $37 million is primarily in stock and debt, Life360 notes, but if certain performance metrics are met within two calendar years following the deal’s close, the deal price could increase to $54.5 million.

The Jiobit was first introduced on the market in 2018, mainly as a kid and pet tracker. The small, lightweight device can be attached to items kids wear or carry, like belt loops, shoelaces, and school backpacks, and appealed in particular to families who wanted a way to track younger children who didn’t yet have their own mobile device. Earlier this year, the company launched an updated version of the Jiobit ($129.99) that included a combination of radios (Bluetooth, Wi-Fi, cellular and GPS), as well as sensors, including an accelerometer/pedometer, temperature sensor and barometer.