Under Armour Acquires Apps in Bid to Become Top Fitness Tracker

BALTIMORE, United States — Under Armour Inc., the maker of athletic clothing and gear, is acquiring the MyFitnessPal and Endomondo applications in a bid to become the world's biggest tracker of fitness information.

The two apps will complement the company’s current software – MapMyFitness and UA Record – giving it a total of 120 million users, according to a statement today. Financial terms of the two acquisitions weren’t disclosed.

"They are ideal partners to enable Under Armour to provide data-driven, proactive solutions to help athletes of all levels lead healthier and more active lifestyles," Kevin Plank, chief executive officer of Baltimore-based Under Armour, said in the statement.

The move is part of Under Armour’s efforts to lock in customers with technology and services – rather than just shoes and T-shirts. It bought MapMyFitness Inc. for $150 million in 2013, playing catch-up to competitors like Nike Inc., which was a pioneer in activity tracking.

MyFitnessPal, based in San Francisco, offers a free program that helps monitor fitness goals. It has more than 80 million registered users. Endomondo, meanwhile, is a Copenhagen-based social network devoted to fitness with 20 million members – mostly outside the U.S.

Under Armour shares rose 1 percent to $73.57 at the close today in New York. The stock is up 41 percent in the past 12 months, outpacing the Standard & Poor’s 500 Index’s 16 percent gain.

Plank founded Under Armour as an apparel company in the 1990s, making workout shirts from synthetic materials that soaked up sweat better than cotton. After the idea took off, Under Armour maintained growth by pushing into categories such as shoes and casual wear. It also expanded distribution overseas.

By: Matt Townsend; editors: Nick Turner and John Lear.