MyFitnessPal was sold for $345 million.
Details of the MyFitnessPal Sale
On October 30, 2020, Under Armour announced its agreement to sell MyFitnessPal, a popular nutrition and fitness tracking application. The buyer was Francisco Partners, a private equity firm. This acquisition was a significant transaction in the digital health and fitness industry, marking a strategic move for both the seller and the buyer.
Here's a summary of the key aspects of the sale:
| Aspect | Detail |
|---|---|
| Sale Price | $345 million |
| Seller | Under Armour |
| Buyer | Francisco Partners (private equity firm) |
| Date | Announced October 30, 2020 |
Broader Context of the Acquisition
The sale of MyFitnessPal was part of a larger strategic restructuring by Under Armour at the time. Alongside the divestment of MyFitnessPal, the company also announced the shutdown of Endomondo, another fitness tracking app it had previously acquired. These moves indicated Under Armour's decision to streamline its digital operations and refocus its business strategy. For Francisco Partners, the acquisition represented an investment in a leading platform within the digital health and wellness sector, aiming to further grow MyFitnessPal's user base and offerings.
