Baltimore-based athletic apparel company Under Armour has announced its intention to buy MapMyFitness, one of the world's largest open fitness tracking platforms, for $150 million. The deal is expected to close by the end of 2013.
"With this acquisition, Under Armour will be uniquely positioned at the forefront of sports and technology and will continue to deliver game-changing solutions to how athletes train and perform," states the announcement. "As part of the collaboration, Under Armour will add depth to its digital capability, offering athletes an elevated training experience through new digital products and platforms."
Boasting more than 20 million registered users, the open platform MapMyFitness has one of the largest connected fitness communities in the world, integrating with more than 400 fitness tracking devices, sensors and wearables. The company's flagship consumer brands--MapMyRun, MapMyRide, and MapMyWalk--are among the most popular apps on iOS and Android.
Leveraging Global Positioning System and other technologies, MapMyFitness provides users with the ability to map, record and share their workouts. The announcement states that MapMyFitness, as a wholly-owned subsidiary of Under Armour, will continue to operate out of its headquarters in Austin, Tex.
In a similar high-profile acquisition in April, San Francisco-based Jawbone, a provider of smart audio devices and wearable technology, announced it had agreed to purchase Pittsburgh-based BodyMedia, a pioneer in wearable body monitors. Sources said Jawbone paid more than $100 million for BodyMedia.
Jawbone's announcement stated that the BodyMedia acquisition was an effort to "further its leadership and accelerate its innovation in wearable health technology and personal data analysis." BodyMedia has more than 14 years of medical and consumer expertise, holds 87 patents, and has the only platform of its kind that is registered with the FDA as a Class II medical device.
To learn more:
- read the announcement