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4th December 2008, San Fransisco

Adidas acquires wearable sensors specialist Textronics

 

Venture capitalist Physic Ventures  has announced that Adidas International, Inc. has acquired Textronics, Inc. (www.textronicsinc.com), a leader in the development of wearable sensors for use in fitness monitoring.

Numetrex sports braUnilever Technology Ventures (UTV), now managed by Physic Ventures, has been an investor in Textronics since the first round of funding and has continued to be an active investor and board member for 3 years, helping the company grow from early-stage to a successful exit.

 "This investment displays our model of investing in outstanding technologies that bring the consumer healthy products," said Director of Innovation, Phil Giesler. "The wearable textile sensors are seamlessly integrated into everyday garments, combining information technology with a consumer product. Our role in Texronics' exit is an illustration of the Physic Ventures investment model, "investing in keeping people healthy."

 Textronics develops and commercializes functional products that integrate sensing fibres directly into the fabric of garments, allowing for the measurement of electrical, optical or magnetic signals without using cumbersome electrodes attached to the body. This includes heart and respiration measurements, vital statistics and motion detection. 

About Physic Ventures

Physic Ventures (www.physicventures.com) is the first venture capital firm dedicated to investing in keeping people healthy by providing capital and expertise to science-based, consumer-driven health and sustainable living companies. The firm's strategy is to capitalize on major economic, social and political trends shaping the landscape of personal and planetary health, including the rapid migration toward a consumer-driven, prevention-oriented "self-care" paradigm. Physic Ventures is based in San Francisco, CA.

About Textronics

Established in 2005 through a spin-off from Invista (formerly DuPont Textiles & Interiors), Textronics is headquartered in Wilmington, Delaware. The company develops and sells wearable sensors for use in fitness and health monitoring while also marketing its own line of clothes for personal monitoring under the brand name of NuMetrex. In 2005, NuMetrex introduced the first consumer garment to incorporate heart rate monitoring technology directly into the garment itself. This product was named "2006 Sports Product of the Year" by the Sporting Goods Manufacturer's Association.

About Adidas Group

The Adidas Group is one of the global leaders within the sporting goods industry, offering a broad range of products around three core segments adidas, Reebok and TaylorMade-adidas Golf. Headquartered in Herzogenaurach, Germany, the Group has more than 34,000 employees and generated sales of €10.3 billion in 2007.

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