Tencent is set to exit the location-tracking technology developer in an acquisition by Life360 that follows over $100m in venture funding.
Life360, a provider of family safety management software, revealed on Monday it plans to buy US-based item-tracking software developer Tile in a $205m deal that would enable internet group Tencent to exit.
Tile has created a cloud software platform which enables users to find missing consumer items by triggering a ringing sound that can be tracked using the company’s mobile app.
The company’s chief executive, CJ Prober, will continue to run it as an independent product and is set to…
