Under Armour buys Mapmyfitness for $150M - Mobile World Live

Under Armour buys Mapmyfitness for $150M

15 NOV 2013

Sportswear firm Under Armour has acquired Mapmyfitness, which runs a leading digital fitness community through websites and apps, for $150 million.

Mapmyfitness has over 20 million registered users and is integrated with more than 400 fitness tracking devices, sensors and wearables. By using GPS, it enables athletes to map, record and share their workouts.

The acquisition enables Under Armour to accelerate its own digital strategy. It intends to build on Mapmyfitness’ existing user base.

Under Armour said it will finance the deal with borrowing under its existing revolving credit facility, cash or a combination of the two, while it evaluates longer-term funding options for the transaction.

The deal is expected to close by the end of 2013 and the company’s previously provided 2013 guidance and preliminary 2014 outlook remain unchanged.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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