Global fitness giant Under Armour announced this morning that it will be selling MyFitnessPal to investment firm Francisco Partners for $345 million, five and a half years after acquiring it for $475 million. The company also announced that it will be winding down the Endomondo platform which it also acquired at the same time for $85 million. In a press release announcing the news, Under Armour said the reason for this decision was to simplify and focus its brand, keeping it aimed at its “target consumer – the Focused Performer” in the interest of building “a singular, cohesive UA ecosystem.” The fact that Under Armour is selling MyFitnessPal at a discount (not even including five years of inflation and stated MyFitnessPal user growth) indicates there’s more to this than just maintaining focus. Under Armour Snatches Up Health And Fitness Trackers Endomondo And MyFitnessPal It’s definitely true that both MyFitnessPal (which claimed 80 million users in 2015 at the time of acquisition, and has more than 200 million users according to today’s press release) and Endomondo were aimed at more casual and entry-level fitness users, who might be working out for the first time, or looking to improve their daily health, but aren’t likely training for endurance-sport competitions.

BING NEWS:
  • Under Armour to sell MyFitnessPal for $345 million, after acquiring it in 2015 for $475 million
    Global fitness giant Under Armour announced this morning that it will be selling MyFitnessPal to investment firm Francisco Partners for $345 million, five and a half years after acquiring it for $475 ...
    11/8/2020 - 10:46 pm | View Link
  • Under Armour to sell MyFitnessPal for $345M
    Five years after acquiring health app MyFitnessPal for $475 million, Under Armour plans to sell the company for $345 million. Under Armour announced on Friday that it would sell the platform to ...
    11/3/2020 - 12:56 pm | View Link
  • Under Armour’s Better-than-expected Earnings and Sale of MyFitnessPal Causes Shares to Surge
    After two consecutive quarters of losses, the Baltimore-based athletic apparel, accessories and footwear maker, logged a $39 million quarterly profit and revealed plans to sell the MyFitnessPal ...
    10/31/2020 - 4:41 am | View Link
  • Under Armour to sell MyFitnessPal for $345 million, after acquiring it in 2015 for $475 million
    Global fitness giant Under Armour announced this morning that it will be selling MyFitnessPal to investment firm Francisco Partners for $345 million, five and a half years after acquiring it for $ ...
    10/30/2020 - 2:41 am | View Link
  • Under Armour’s Better-than-expected Earnings and Sale of MyFitnessPal Causes Shares to Surge
    The retailer also had $74 million in restructuring and impairment fees during the last three months. The MyFitnessPal transaction is expected to close during the current quarter, subject to customary ...
    10/30/2020 - 1:58 am | View Link
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