MIPS has agreed to purchase GlideWear—both the brand and patent rights associated with the GlideWear technology—from Tamarack Habilitation Technologies Inc. for about $1 million, according to Bicycle Retailer and Industry News (BRAIN).
GlideWear technology is a two-layer, low-friction fabric that primarily has been used in medical applications to protect the skin from friction and shear. MIPS has used the technology in some of its helmet technology since its inception. As a part of the transaction, Tamarack retains a royalty free license for eight years to continue to use the technology for its existing medical applications.
“We are pleased with the acquisition of the GlideWear technology and the access to materials that will enhance our product portfolio. We started the development work with Tamarack some years ago and quickly realized the value of having the GlideWear technology in our product portfolio” said Max Strandwitz, the CEO of MIPS.
Tamarack is a privately owned company based in Minnesota.
This is the second acquisition for MIPS in the last month. In May the Swedish company acquired Fluid Inside, which makes fluid-filled helmet pads.