Under Armour Acquires Fitness Apps MyFitnessPal and Endomondo for Combined $560 Million USD

Under Armour has purchased social fitness apps MyFitnessPal and Endomondo, in hopes to expand the company’s digital platform and to use online fitness communities to boost sales. Both apps allow users to log calories, record exercises, track workouts and analyze performance, creating a network for friends to help each other lose weight and get fit. This acquisition will bring Under Armour’s consolidated network of fitness app users to 120 million, much larger than the Nike+ platform’s reach. Under Armour has had a remarkable 2014, with substantial increases across various criteria in its quarterly earnings — most notably a 37% increase in fourth-quarter profit at $88 million USD — surpassing adidas to become the second largest sportswear brand in the U.S. by retail sales. For more information on the recent acquisition, click here.