Under Armour is selling MyFitnessPal for $345 million

Under Armour may be rethinking its fitness app strategy. After purchasing MyFitnessPal for $475 million in 2015, the company announced today that it has started a “definitive agreement to sell the MyFitnessPal platform to Francisco Partners.” It’s also discontinuing the Endomondo personal trainer app it bought at the same time as MyFitnessPal for $85 million. According to the company, the sale announced today is valued at $345 million and is expected to close in the fourth quarter of 2020.

In a statement, Under Armour CEO Patrik Frisk said the move “reduces the complexity of our consumer’s brand journey by empowering sharper alignment with our long-term digital strategy as we work towards a singular, cohesive UA ecosystem.” Frisk added that it would give the company greater “investment flexibility.”