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Maryland Center for Entrepreneurship Resident Company’s Assets Acquired by Zwift, Inc.

Wednesday, July 25, 2018

Virtual online cycling and running platform, Zwift, acquired the assets of wearables manufacturer and Maryland Center for Entrepreneurship (MCE) resident company, Milestone Sports and has hired Milestone’s staff as a part of the transition.

Zwift is a multiplayer virtual cycling and running game that enables users to interact, train, and compete in an online setting. Milestone Sports is a device company that makes a running-tracking footpod called the MilestonePod that clips to a runner’s shoe and records mileage, gait, and performance. Zwift’s system will collect the data measured by the MilestonePods, and allow users to train with each other in a virtual reality setting.

Former Milestone CEO, Jason Kaplan, shared his excitement regarding the integration of Zwift and Milestone’s technology, “We are delighted to be part of Zwift and help it accelerate its expansion into the running market.  MilestonePods are not only great tools to enable the in-game experience, but they also help provide runners with important information that can improve performance, reduce injury risk, and make sure they are in the proper shoe.”

Zwift plans to optimize the technology behind the MilestonePod for the indoor running experience which will improve the video game-feel of the product and enhancing its social connectivity.

“Milestone is a great example of how innovative ideas can take root and grow in Howard County,” said Howard County Executive Allan H. Kittleman. “We recognize that by creating an environment where new business can thrive, we’re adding jobs to our community and expanding our economy. It’s a win-win for everyone.”

Milestone launched in January of 2013, and sought business development advisement through the Howard County Economic Development Authority (HCEDA) as an affiliate to the Maryland Center for Entrepreneurship in early 2014. By late 2015, Milestone upgraded their membership to a residency at the MCE to better accommodate their expanding operations. Prior to being acquired by Zwift, the value of the MilestonePod was recognized for its ease of use, advanced run tracking and low cost by retail and fitness media platforms such as Business Insider, BuzzFeed, and SELF Magazine.

“We are always proud to see our MCE companies succeed,” said CEO of the HCEDA, Larry Twele. “We are honored to have been a resource to Milestone Sports throughout their entrepreneurial journey by helping their team foster meaningful professional relationships within our businesses community and implement successful growth strategies.”

For additional information regarding Milestone’s recent acquirement, please visit: https://www.sporttechie.com/zwift-milestone-sports-virtual-running-footpods/. Please note, further details regarding the full scope of transaction have not been released.

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