Under Armour Acquires Endomondo, MyFitnessPal for $560M

Source http://feedproxy.google.com/~r/allfacebook/~3/hSioboFVH-k/614454

Fitness apparel company Under Armour announced Wednesday that it has acquired two popular fitness apps: Endomondo and MyFitnessPal.

Under Armour acquired MyFitnessPal for $475 million and Endomondo for $85 million, combining for a $560 million price tag for both apps.

Kevin Plank, Under Armour’s CEO, detailed the acquisition in a press release:

Under Armour’s demonstrated global leadership in health and fitness innovation is greatly enhanced with the addition of Endomondo and MyFitnessPal, as we continue to redefine and elevate the Connected Fitness experience for millions of people around the world. Similar to MapMyFitness, Endomondo and MyFitnessPal have established track records of unmatched equity, expertise and passion in the fitness and nutrition space, and they are ideal partners to enable Under Armour to provide data-driven, proactive solutions to help athletes of all levels lead healthier and more active lifestyles.

According to AppAnnie, MyFitnessPal is the top-ranked health & fitness app in the U.S. on both iOS (for iPhone) and Android. MyFitnessPal has roughly 80 million registered users; Endomondo roughly 20 million — 80 percent of whom are outside of the U.S., Under Armour claims.

Mike Lee, Co-Founder and CEO of MyFitnessPal, discussed the acquisition:

At MyFitnessPal, user success is our true North. Under Armour will bring vast health and fitness expertise and resources to our 80 million users to help guide them as they work to achieve their health goals.

Here’s Endomondo Co-Founder and CEO Mette Lykke’s sentiment:

Endomondo has built an engaged global community of fitness enthusiasts, providing a strong technical platform for our users, while adhering to our core belief that social interaction and support are key motivators when it comes to getting fit and maintaining a healthy lifestyle. We share in Under Armour’s passion for innovation, as well as its mission to make athletes better, and we look forward to better serving the needs of athletes around the world.

Under Armour does currently have two fitness apps: Under Armour Record and Armour39. Under Armour notes that, with all apps combined, the company’s Connected Fitness community should include more than 120 million registered users.

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