Sports apparel company Under Armour has announced plans to acquire two leading fitness-themed apps: Endomondo and MyFitnessPal. The two deals, which are scheduled to close before the end of the first quarter of 2015, will cost Under Armour a total of $560 million, with $475 million to acquire MyFitnessPal, and another $85 million for Endomondo.
Under Armour says that these deals will supplement and expand upon the company's own MapMyFitness and UA RECORD apps. It added:
Both Endomondo and MyFitnessPall will continue to operate out of their current locations in Copenhagen and San Francisco, respectively, after the acquisitions close.
Source: Under Armour
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