TechTaffy

tech:

taffy

Under Armour Acquires MapMyFitness For $150M

By TechTaffy Desk

mapmyfitness

Sports apparel and gear brand Under Armour has acquired fitness technology company MapMyFitness for $150 million. The deal is expected to close by the end of 2013. MapMyFitness will continue to operate out of its headquarters in Austin, Texas, as a wholly-owned subsidiary of Under Armour.

Kevin Plank (Founder and CEO, Under Armour): We will build on the community of over 20 million registered users that MapMyFitness has cultivated in the connected fitness space, and together we will serve as a destination for the measurement and analytics needs of all athletes.

Under Armour was advised by the investment banking advisory firm, Peter J. Solomon and the law firm King & Spalding. MapMyFitness was advised by the investment firm, Allen & Company and the law firm Wilson Sonsini Goodrich Rosati.

[Image courtesy: MapMyFitness]

Just in

Around the web

Biden signs TikTok ‘ban’ bill into law, starting the clock for ByteDance to divest it — The Verge

President Joe Biden signed a foreign aid package that includes a bill that would ban TikTok if China-based parent company ByteDance fails to divest the app within a year, writes Lauren Feiner.
IT

IBM to acquire HashiCorp for $6.4B

IBM and HashiCorp have entered into an agreement for IBM to acquire HashiCorp, a provider of infrastructure and security management products, for $6.4 billion.
AI

OpenAI introduces new enterprise features

OpenAI announced new features aimed at enterprise users on Tuesday, at the wake of Meta's recent LLama 3 announcement.
Around the web

Oracle is moving its world headquarters to Nashville to be closer to health-care industry — CNBC

Oracle Chairman Larry Ellison said Tuesday that the company is moving its world headquarters to Nashville, Tennessee, to be closer to a major health-care epicenter, writes Ashley Capoot.
Industry

Square expands offline payments globally

Payment processing company Square has announced the expansion of its offline payments feature to all hardware devices and countries.