MIPS to acquire linear and rotational motion specialist FLUID for $3.3 million
Brain protection firm MIPS has agreed to acquire assets that include FLUID Inside, including technology that addresses linear and rotational motions to improve helmet protection.
FLUID technology has largely been used in helmets for team sports so far.
While the move is not expected to have a material impact on net sales or EBIT for MIPS this year, it is an important strategic step for the firm to shore up its patent protection, it said.
The helmet protection sector is hotly contested. MIPS recently called out the performance claims of Trek and Bontrager’s WaveCel system and has previously successfully protected its patent rights in court.
MIPS CEO Max Strandwitz said: ”The acquisition is primarily part of our strategic plan to increase our patent protection and is an acknowledgment of our position as the world leader in brain protection systems within helmet-based safety. We are also very enthusiastic about strengthening our relationship with University of Ottawa and to further increase our knowledge within team sports.”
FLUID developed its system in collaboration with Oblique Technology and the University of Ottawa (which are also sellers in the deal). The acquisition for USD $3.3m – plus a maximum $2m based on future net revenues from the acquired rights – includes a limited number of customer agreements.