Under Armour Acquires MapMyFitness For $150 Million
Under Armour has acquired MapMyFitness for $150 million. Based in Austin, Texas, MapMyFitness uses the smartphone’s GPS to let people track runs, bike rides, etc. The MapMyFitness app can be compared to Nike RunKeeper. MapMyFitness can be seamlessly integrated with over 400 fitness tracking devices and sensors.
“This partnership is about Under Armour enhancing our digital expertise to drive the future of performance innovation for the global athlete community,” stated Kevin Plank, Founder and CEO of Under Armour. “We will build on the community of over 20 million registered users that MapMyFitness has cultivated in the connected fitness space, and together we will serve as a destination for the measurement and analytics needs of all athletes. Innovation has always been at the core of our company, and now we are better positioned to design open, digital products for the athlete of tomorrow and become more proactive in providing solutions that will help people across the world lead healthier lifestyles.”
Through the acquisition, Under Armour will be positioned at the forefront of sports and technology. Under Armour will add depth to their digital capability, which offers athletes an enhanced training experience through new digital products and platforms.