Business
Life360 (ASX:360) share price jumps 9% to record high on acquisition news
The Life360 Inc (ASX: 360) share price has been a strong performer on Tuesday morning.
At the time of writing, family safety app company’s shares are up over 9% to a record high of $5.72.
Why is the Life360 share price on fire today?
Investors have been scrambling to buy the company’s shares this morning after it announced a potential acquisition.
According to the release, the company has entered into a non-binding term sheet for the acquisition of Jiobit for US$37 million. This could increase to US$54.5 million if certain performance targets are achieved in the two full calendar years following completion.
What is Jiobit?
Jiobit is a provider of wearable location devices for young children, pets, and seniors. It provides…
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