Under Armour is on something of shopping spree. Late on Wednesday afternoon, it emerged that the sports apparel company had acquired not one but two major health applications, MyFitnessPal and Endomondo.
Under Armour confirmed both acquisitions alongside its yearly financials. The company didn’t offer financial details in its announcement but its 2014 financial report reveals that it paid $85 million for Endomondo as part of an acquisition that closed in early January. The company’s acquisition of calorie counting and nutrition and exercise tracker MyFitnessPal is valued at $475 million.
The company said this acquisition is expected to close in the first quarter of this year. Combined with its own UA Record app, Under Armour’s app portfolio now boasts a user base of more than 120 million people (80 million from MyFitnessPal and another 31 million from Endomondo).
In the announcement, Under Armour said it planned to leverage these purchases to establish the world’s largest digital health and fitness community. This matches up with the announcement Under Armour made at CES. The company announced a partnership with HTC that would see the latter build “a series of products” with UA Record integration. HTC is thought to be launching a fitness band at MWC next month. If it can work in MyFitnessPal and Endomondo integration on top of that, it will be very well positioned in the fitness tracking and monitoring app.
[source]Under Armour 1, 2[/source]
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