Mips acquires Koroyd
Two brands in personal protection will join forces as Mips has acquired Koroyd. The two brands announced the tie-up on Friday, December 12 with a reported acquisition price of €40 million. Mips' president and CEO Max Strandwitz said the two companies would keep their existing separate structures and leadership teams.
The acquisition complements Mips' portfolio in several ways. First is the technology: while the companies overlap in the sports helmet market, their products work differently. Koroyd's honeycomb structure primarily protects against linear impacts, while Mips' sliding-layer technology is designed to address rotational impacts. Koroyd is found in Smith and Endura helmets, which also sometimes feature Mips.
More important, Koroyd has a significant share in the body protection market, such as a deal it just signed with Fox Racing to provide its technology for knee guards. The acquisition positions Mips as offering a complete suite of protection tech to helmet and armor brands in outdoor sports, but also action sports, defense and workplace safety markets.
