Jiobit: Hardware startup Jiobit to be acquired in deal worth up to $54M

Jiobit, a Chicago startup that creates tracking devices for kids and pets, is being scooped up by a San Francisco tech firm. Life360, a popular family tracking app, is acquiring Jiobit for $37 million in stock and debt, but the deal could be worth up to $54.5 million if Jiobit hits certain performance metrics. The deal is expected to close in the coming months, Jiobit CEO John Renaldi said. The deal allows Life360 to expand beyond the smartphone into wearable devices, as Jiobit's devices will...