The popular digital health application Endomondo has been sold to the fitness brand Under Armour. The fitness app has been downloaded over 24 million times from users around the world since they started back in 2007. Access to the data of these millions of users is the likely motivation of Under Armour’s acquisition of Endomondo. Endomondo contains user profiles and tracks user training habits, geo-tracking data – where they exercise, and health data.
by Dinuka Muhandiramge and Daniel Laursen
The details about the acquisition will go public tonight, CET when Under Armour release their Q4 financial details. In 2013 Under Armour acquired another fitness app called MapMyFitness for US $150 million. Similarly to Endomondo MapMyFitness allows users to track their workouts and is integrated with social networks so users can share their fitness data.
Early this year Under Armour made a partnership with HTC in order to make a new fitness tracking app for their wearable products. Essentially Under Armour has an aligned focus that matches Endomondo well. One could also speculate data collection and talent acquisition were other motivations for the purchase.
Speculation of Endomondo’s acquisition has been in the air, since early January with both Børsen in Denmark, TheNordicWebs founder Niel Murray and Nordic Startup Bits founder Daniel Laursen predicting that Endomondo would be acquired by tech giant Apple, Google or Microsoft.
Looking at former acquisitions with the same number of users, the size of the acquisition could be $ 7-10 pr. user with a total size of $168-240 million. The deal size is still speculation but later tonight there will be much more clarity on this matter when Under Armour released their financial report
Tomorrow morning, Mette Lykke has invited journalists to Endomondo’s headquarters, but for now is not taking any comments.