Under Armour Buys MapMyFitness for $150 Million

Athletic clothing brand Under Armour is buying workout app MapMyFitness for $150 million.

The company plans to use the purchase to "broaden its existing digital offerings," according to The Wall Street Journal. “Athlete biometric measurement is a new business we’re just getting behind,” Kevin Plank, Under Armour’s CEO, told the publication

Under Armour competitors have already capitalized on the popularity of tracking data for workouts. In particular, Nike has signed up more than 20 million users for its Nike+ monitoring system, and expanded upon that with its Nike's FuelBand, released last year Read more...