A few years ago, Under Armour made a splashy entrance into the burgeoning market for digital fitness apps with a series of acquisitions. Now, as the coronavirus batters its business, the sports apparel maker has decided to part ways with the biggest of those deals.
Under Armour is looking to sell MyFitnessPal, an app it bought in 2015 for around $475 million that helps people track their diet and exercise, said two people familiar with the matter. Such a deal would be a striking turnabout for Under Armor’s much-hyped expansion into the digital arena. “Silicon Valley’s Latest Threat: Under Armour” read the headline of a 2015 Forbes magazine story about the company’s technology acquisition spree.
