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2
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· Posted on
February 21, 2024

Tracking app Life360 bought key and wallet-finder Tile and now they make one big lifesaver

Life360 is kinda like Find My Friends...but for ya kids.

What's the key learning?

  • Life360 has acquired US company Tile, which develops tracking devices that you can attach to your belongings
  • The deal is reportedly worth nearly $300 million...and Life360's share price was halted ahead of the acquisition
  • A trading halt is a temporary suspension of a company's trading activity. It usually happens ahead of a big company announcement.

Background: Life360 are an ASX-listed tech company that provide location-based services...but their main gig is family social networking. Kinda like Find My Friends, but for ya kids.

What happened: This crew are acquiring US company Tile, which develops tracking devices that you can attach to your belongings (like your wallet or keys).

What else: The deal is reportedly worth nearly $300 million...and Life360's share price was halted ahead of the acquisition.

So what's the key learning?

💡A trading halt is a temporary suspension of a company's trading activity. It usually happens ahead of a big company announcement...or to correct a technical fault.

💡During this time, investors can't buy or sell shares. And it's because investors need time to review the news and assess its impact...without making a rash decision.

💡The halt can last anywhere from a couple hours...to up to 2 days. In this case, Life360 shares were on hold ahead of their major acquisition announcement.

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