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NewsPoster Nov 14, 2013 11:45 AM
Under Armour buys fitness tracker platform MapMyFitness for $150M
Sportswear brand Under Armour has <a href="" rel='nofollow'>acquired</a> fitness technology company MapMyFitness. The purchase, worth $150 million, sees Under Armour take control of the MapMyFitness <a href="" rel='nofollow'>iOS</a> and <a href=" esult#?t=W251bGwsMSwyLDNd" rel='nofollow'>Android</a> apps and platform, which is currently collecting fitness-related data on over 20 million users and from more than 400 different fitness trackers, sensors, and wearables. <br />
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Though the current fitness tracker market is dominated by products from companies such as <a href="" rel='nofollow'>Jawbone</a> and <a href="" rel='nofollow'>Fitbit</a>, the MapMyFitness purchase brings Under Armour alongside another fitness brand involved in tracking. Nike currently offers the FuelBand and <a href="" rel='nofollow'>FuelBand SE</a>, along with a companion app, all of which pass data to MapMyFitness. While Under Armour currently offers a fitness and heart rate tracker in the form of the <a href="" rel='nofollow'>Armour39</a>, the company will apparently be offering athletes an "elevated training experience through new digital products and platforms" via MapMyFitness. <br />
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Kevin Plank, founder and CEO of Under Armour, wants to use the new acquisition to "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." <br />
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MapMyFitness will continue to operate in Austin, Texas as a subsidiary of Under Armour, with the main app, and the MapMyRun and MapMyRide variants likely to continue to operate as before, until Under Armour reveals more about its plans.
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