Several months after reports indicated Under Armour was seeking a buyer for the app MyFitnessPal, the company announced a sale on Friday morning.
In a deal that could be worth $345 million, the Baltimore-based apparel company is selling MyFitnessPal to private equity firm Francisco Partners. At the end of the year, Under Armour is also planning to discontinue Endomondo, another app in its connected fitness platform.
Of the three apps it acquired from 2013 to 2015, that leaves MapMyFitness as the remaining app under UA’s purview. On a conference call to discuss Q3 earnings Friday morning, CEO Patrik Frisk said that MapMyFitness will be key to UA’s strategy of simplifying its connected fitness offerings and creating a “singular, cohesive UA ecosystem.” He added the company has seen growth in MapMyFitness during the pandemic. Pointing at where the strategy might be headed, Frisk said it reached a milestone of 1 million shoes connecting to the platform. This allows users to track data.
“The whole idea is really that as we get more and more focused and we get dialed into the focused performer, it was clear to us that the consumer that was on MyFitnessPal didn’t skew necessarily to the consumer we’re targeting as our other apps did,” he said, clarifying that the other apps in this case are the running and riding trackers on the MapMyFitness platform.