Technet: Daily Crunch - Under Armour is selling MyFitnessPal

The big story: Under Armour is selling MyFitnessPal

Five years after Under Armour acquired MyFitnessPal for $475 million, it’s selling the diet- and exercise-tracking app to investment firm Francisco Partners for $345 million. It’s also shutting down the Endomondo platform, which it acquired at the same time.

Under Armour says it’s making these moves so that it can focus its brand on its “target consumer – the Focused Performer.” However, the diminished price suggested there may be more going on here, perhaps the business likely suffering as companies like Peloton and Apple (with its upcoming Fitness+ service) hog the spotlight in the casual fitness category.

It’s also worth noting that Under Armour isn’t completely giving up on digital products — it will continue operating the MapMyFitness platform, including MapMyRun and MapMyRide.

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