Sports performance clothing and accessories company Under Armour (NYSE: UA) has agreed to acquire MyFitnessPal, a health and fitness tracking company, for $475 million. With more than 80 million registered users, MyFitnessPal provides nutritional data for over 5 million foods and offers caloric data associated with hundreds of exercises in order to help users make more informed healthy-living decisions. The company had raised an $18 million investment in August 2013 at a valuation of $102 million from Kleiner Perkins Caufield & Byers and Accel Partners. The acquisition is expected to close in 1Q.
Under Armour also announced its purchase of Danish VC-backed company Endomondo, an open fitness tracking platform and social fitness network, for $85 million in early January. The two acquisitions will provide UA with additional technology for its recently launched UA Record fitness tracking app and website, which will be connected with 120 million unique global consumers.