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I'm Tracer is a wearable GPS tracker for kids and pets

This gadget will keep tabs on loved ones -- both young and old -- or make sure someone can find you while you're hiking in the wilderness.

The I'm Tracer strap is designed for a child's wrist -- so I guess I have a really small one. Aloysius Low/CNET

BARCELONA, Spain -- Italian company I'm Spa's latest product, the I'm Tracer, is a GPS tracker that can be worn as a wristband -- or a collar for your pet.

Underneath the water- and shock-resistant rubber casing is a GPS tracker as well as a SIM card. The I'm Tracer uses GSM to triangulate your position before getting a lock with GPS and reports that location to the app running on a smartphone or a PC.

You can also set geo fences, which will alert you if the tracker leaves the set boundary, or set a timer that will alert you every five to 15 minutes.

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A company rep told me the tracker will work in most parts of the world, though not in Japan, as it uses a different GSM frequency from what the device supports -- 800MHz and 1,900MHz.

The I'm Tracker should be available in June globally with an estimated retail price of 150 to 180 euros ($216 to $247). You'll also need a subscription plan of 6 euros ($8) a month -- if you don't subscribe, you won't be able to receive location updates. A 25 euro ($34) prepaid plan is also available for up to 1,000 updates.