Sips is the business based in Paignton
I think you may mean SIPP, not sip? If this is the case, SIPP is an acronym for Single Inline Pin Package. a SIPP was an early for of computer memory which was replaced by the SIMM and later the DIMM.
Side Impact Protection (SIP)
a time where you crunch on a apple and sip on some water
lip, pip, dip