Swedish helmet safety specialist Mips AB has entered into an agreement to acquire 25 percent of Dallas, Texas-based sensor technology company Quintessential Design, Inc (Quin Design) for $7.3 million. Quin is an ingredient brand for event detection technology and has been providing specialized sensor fusion and software for helmet brands since 2018. Quin’s proprietary technology transforms passive gear into smart companions capable of detecting safety events, triggering emergency protocols, and connecting the nearest emergency services to those in distress.
Max Strandwitz, CEO of Mips, said, “With this investment, Mips is taking the first strong step into exploring the possibilities of sensor technology in helmets. We are convinced that Quin’s proprietary smart technology has many possibilities, and they work with the same consumer-centric approach to help save lives that has always been at the center of our work at Mips. We look forward to a meaningful, synergistic collaboration and are happy to bring our competence to support Quin on their exciting journey forward.”
“Our shared vision and commitment to data-driven safety solutions make this collaboration a perfect combination to drive innovations in this field,“ Anirudha Surabhi, CEO of Quin, commented on the partnership. “Quin is constantly innovating to make our sensor capabilities even smarter with new technologies. Mips is strengthening our mission, and we’re ready to embrace this new chapter to make safety smarter, better, and more accessible for all.
The company said that investing in Quin is an important step in fulfilling Mips’ vision, mission and strategy by improving incident data collection through high-precision sensor technology and associated machine learning algorithms. “Mips is built on a scientific foundation and is constantly looking for new ways to gather data related to helmet safety to expand this foundation and strengthen Mips’ position as the world leader in helmet safety.” The investment is a strategic step for Mips to explore the potential of sensor technology further.
