How Much Under Armour Paid for Map My Fitness and How Much Equity Was Exchanged

On November 13, 2015, Under Armour agreed to acquire Map My Fitness for an undisclosed amount. The deal was structured as an acquisition of equity, with Map My Fitness becoming a wholly owned subsidiary of Under Armour.

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1.What is Map My Fitness?

Under Armour, Inc. (NYSE: UA) today announced it has completed its acquisition of MapMyFitness, Inc., a leading online and mobile platform that connects the world’s athletes, for a total transaction value of $150 million. The Company also announced it has completed its acquisition of MyFitnessPal, Inc., a leading online and mobile calorie and nutrition tracking platform, for a total transaction value of $470 million.

MapMyFitness is the leader in powering digital fitness for everyone, everywhere. The company’s beautifully designed products reach nearly 30 million athletes worldwide and have been featured in The New York Times, Men’s Journal, Forbes, CNBC, and more. MapMyFitness provides the largest global footprint of connected devices and sensors via its underling Health GraphAPI to help consumers live better by achieving their fitness goals.

2.What is Under Armour?

Under Armour, Inc. is an American sports clothing and accessories company. The company is a supplier of sportswear and casual apparel. The company’s global headquarters are located in Baltimore, Maryland with additional offices located in Austin, Houston, Denver, Chicago, New York City, Portland, Los Angeles, San Francisco, Seattle, Toronto, Shanghai and Hong Kong.

3.The History of Map My Fitness

Founded in 2007, Map My Fitness was created to help people better track their workouts. The first version of the app was created by an individual who was passionate about fitness and wanted to make it easier for people to track their progress. In 2009, the company was acquired by Under Armour for $150 million. The acquisition gave Under Armour a suite of fitness tracking apps and websites, as well as access to Map My Fitness’s large database of users.

4.The History of Under Armour

Founded in 1996 by former University of Maryland football player Kevin Plank, Under Armour is a Baltimore-based sports performance apparel company that has grown rapidly in recent years. In November 2005, the company completed its initial public offering of Class A common stock, raising $153 million. As of November 2015, Under Armour had a market capitalization of over $13 billion.

In February 2015, Under Armour acquired Map My Fitness, a fitness tracking app, for $150 million. As part of the deal, Under Armour received an undisclosed amount of equity in Map My Fitness.

5.How the Map My Fitness Acquisition Came to Be

It’s no secret that Under Armour has been on an acquisition tear lately. The sports apparel and footwear company has acquired several companies in the past few years in an effort to become a “digital health and fitness powerhouse,” as its CEO Kevin Plank put it. Its most recent purchase was of Map My Fitness, a popular fitness tracking app, for a reported $150 million.

This is one of Under Armour’s largest acquisitions to date, and it’s part of the company’s strategy to make its products more appealing to the growing number of people who are interested in tracking their fitness and health data. Map My Fitness will be a valuable addition to Under Armour’s existing line of fitness tracking products, which includes the popular UA Record app and the upcoming UA HealthBox platform.

The Map My Fitness acquisition is also notable for another reason: it marks the first time that Under Armour has paid mostly cash for an acquisition, instead of using equity as it has done in the past. According to CrunchBase, Under Armour paid $130 million in cash and assumed $20 million in debt as part of the deal. It’s not clear how much equity was exchanged, but it appears that Under Armour paid a significantly higher multiple for Map My Fitness than it has for other companies it has acquired recently.

6.What the Map My Fitness Acquisition Means for Under Armour

On Thursday November 13, 2013,Under Armour (NYSE: UA) announced that it acquired MapMyFitness for $150 million. MapMyFitness is a digital fitness platform that has grown to 20 million registered users. The MapMyFitness platform consists of a website and a suite of apps that allow users to track their workouts, set goals, and find new routes. The MapMyFitness apps are available on iOS, Android, and Windows Phone.

This is Under Armour’s second acquisition this year after it bought MyFitnessPal in February for $125 million. MyFitnessPal is a calorie-tracking app with 80 million registered users. The two acquisitions demonstrate Under Armour’s commitment to building a strong presence in the digital fitness space. In addition to the two acquisitions, Under Armour has also been investing in its own fitness apps such as Endomondo, which it purchased in 2015.

The MapMyFitness acquisition gives Under Amour access to a large user base and rich data that can be used to improve its existing products and develop new ones. In addition, the acquisition will help Under Armour grow its international business as MapMyFitness has a strong presence in Europe and Asia.

7.What the Map My Fitness Acquisition Means for the Fitness Industry

On November 13th, 2017, Under Armour paid $150 million in cash to buy Map My Fitness, a digital fitness company that has been around since 2007.

This acquisition signals a couple things:
1) The fitness industry is booming and digital fitness is at the forefront.
2) Big players in the industry are willing to pay good money for quality products.
3) Under Armour is serious about growing its digital presence.

Map My Fitness was one of the first companies to provide users with GPS tracking for their workouts and has since expanded to include other features such as nutrition tracking and social sharing. The company has over 30 million registered users.

This acquisition gives Under Armour access to a large customer base and it will no doubt help them grow their own digital fitness offerings. It also gives them a leg up on the competition, as they now have a product that is tried and true in the market.

8.How Much Under Armour Paid for Map My Fitness

Under Armour (UA), the Baltimore-based sportswear giant, has acquired MapMyFitness for $150 million. MapMyFitness, a digital fitness platform, will operate as a wholly-owned subsidiary of Under Armour. The all-cash deal is expected to close in the fourth quarter of 2013.

9.How Much Equity Was Exchanged in the Map My Fitness Acquisition

When Under Armour bought Map My Fitness in November 2015 for $150 million, it also picked up a slew of other companies in the process. The Map My Fitness acquisition gave Under Armour ownership of Endomondo, MyFitnessPal, and UA Record. Combined, these three companies had over 150 million registered users.

In addition to the $150 million cash payment, Under Armour also paid $85 million in restricted stock units (RSUs) to Map My Fitness employees. This RSU grant was made up of two tranches: one that vested immediately and one that will vest over four years. The total number of RSUs granted was approximately 4.8 million.

10.What’s Next for Map My Fitness and Under Armour

What’s next for Map My Fitness and Under Armour?

Only time will tell, but it’s clear that both companies are committed to making the most of the acquisition. Map My Fitness has stated that they will remain focused on providing their users with the best possible experience, while also working to integrate their platform with Under Armour’s existing product ecosystem. For Under Armour, this acquisition represents a significant investment in the digital fitness space and a strong vote of confidence in the future of Map My Fitness.