Under Armour to sell MyFitnessPal for $345 million, after acquiring it in 2015 for $475 million

Global fitness giant Under Armour announced this morning that it will be selling MyFitnessPal to investment firm Francisco Partners for $345 million, five and a half years after acquiring it for $475 million. In a press release announcing the news, Under Armour said the reason for this decision was to simplify and focus its brand, keeping it aimed at its "target consumer – the Focused Performer" in the interest of building "a singular, cohesive UA ecosystem." The fact that Under Armour is selling MyFitnessPal at a discount (not even including five years of inflation and stated MyFitnessPal user growth) indicates there's more to this than just maintaining focus.

from Yahoo Tech https://ift.tt/3oCd5QN