Sports apparel company Under Armour has announced the acquisition of MyFitnessPal, a diet-tracking app, for USD 475 million, as well as a USD 85 million purchase of running app Endomondo, to establish the world’s largest digital health and fitness community.
These acquisitions, which supplement UA’s existing MapMyFitness and UA RECORD™ suite of applications, will help Under Armour’s digital user base to reach more than 120 million users.
MyFitnessPal is a free resource for achieving and maintaining health and fitness goals, providing nutritional information and offering caloric data associated with exercises. It is has over 80 million registered users. The company had raised USD 18 billion in funding till date.
Meanwhile, Endomondo is an open fitness tracking platform and social fitness network connecting athletes throughout the world. It provides users with the ability to map, record and share their workouts. It currently has 20 million registered users, approximately 80 percent of which are located outside of the US.Category Business Investments