Under Armour also launched a new app, called UA Record, an aggregator app for health and fitness data. While the details of that deal remain fuzzy, Under Armour's designers, sports scientists and athletes are working closely with HTC’s Connected Products business unit, as well as its design and engineering teams to create products for both professional and amateur athletes. Assuming the MyFitnessPal deal closes as planned, it will also continue to operate out of its headquarters in San Francisco, CA.Įarlier this year Under Armour announced a partnership with mobile device maker HTC. The Endomondo deal officially closed last month.Įndomondo will continue to operate out of its headquarters in Copenhagen, but as a wholly-owned subsidiary of Under Armour. Under Armour will fund the $475 million acquisition of MyFitnessPal "through an expanded term loan and revolving credit facility as well as cash on hand." It expects that deal to close by the end of Q1. Between those three groups apparently there were only 11 million users who used an app from more than one of the three companies. Endomondo claimed to have 20 million users - 80 percent of which are outside of the US - and MyFitnessPal said it had more than 80 million. Following its acquisition of MapMyFitness, Under Armour said it had 31 million users. Under Armour claims that following these acquisitions it has a unique user base of 120 million. These aren't the first digital health acquisitions for Under Armour, which bought fitness app maker MapMyFitness in November 2013 for a reported $150 million. MyFitnessPal has raised at least $18 million in funding and Endomondo has raised around $8 million, according to TechCrunch. Baltimore, Maryland-based athletics apparel company Under Armour is acquiring two health and fitness app makers: San Francisco-based fitness platform MyFitnessPal and Denmark-based Endomondo. Endomondo, which makes free GPS-based tracking apps, went for for $85 million and MyFitnessPal, which offers apps that track fitness and diet, was acquired for $475 million.
0 Comments
Leave a Reply. |