Under Armour selling MyFitnessPal at a price of less than what they paid to acquire it has stoked some questions about if it was operating at a loss for the company or if the company was in dire need to get rid of debt. Under Armour decided to sell off MyFitnessPal because they wanted to focus on their apparel brand and aim it at its target consumer. Earlier this year, Under Armour also announced they would be winding down the Endomondo platform which they acquired for 85 million dollars. Under Armour had originally acquired MyFitnessPal for 475 million dollars five and a half years ago. Debt financing for the transaction was provided by MidCap Financial. This announcement follows the October 30, 2020 news where Under Armour detailed that it had entered into a definitive agreement with Francisco Partners regarding the sale of this business for a transaction value of 345 million dollars, inclusive of the achievement of potential earn-out payments. Under Armour announced late last week that it is selling off MyFitnessPal to investment firm Francisco Partners for 345 million a fair bit lower than the 475 million it paid for the connected fitness app and platform back in 2015. has completed the sale of the MyFitnessPal platform to Francisco Partners.
Athletic performance apparel brand Under Armour, Inc. Under Armour agreed to acquire MyFitnessPal for 475 million, in a deal that expands the Athletic-apparel maker’s digital fitness platform.
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