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San Francisco tech company Life360 is buying Chicago-based Jiobit in a deal that will assist reassure mother and father who want to know the place their youngsters are. On Monday, Life360 introduced that it entered a tentative, non-binding agreement with Jiobit to accumulate the company for $37 million. Life360 added that the dollar amount could enhance to $54.5 million if certain efficiency metrics are met inside the 2 years following the deal. Founder and CEO John Renaldi began Jiobit after a scary experience, the place he misplaced his six-12 months-outdated son in a crowded Chicago park for more than 30 minutes. After the incident, Renaldi looked for a wearable system that might help him keep observe of his son, however he wasn’t satisfied with any of the obtainable products. Jiobit has created a small gadget that uses GPS, cellular data, bluetooth and Wi-Fi to show its location at all times by a corresponding app. Parents can use this machine to entry accurate info on where their kids, pets or older kinfolk are.
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