Dive Summary:

• The athletic apparel company Under Armour has agreed to purchase the fitness training and performance service MyMapFitness.
• The deal between the two sides is worth a reported $150 million and will allow Under Armour loyalists to use the service to measure their fitness training online.
• Under Armour plans to finance the purchase through a combination of credit and on-hand cash, with the transaction expected to close by the end of 2014.

Dive Insight:

MyMapFitness currently boasts 20 million users that can measure their physical training progress on over 400 devices and applications. “MapMyFitness products are device agnostic and it makes Under Armour an immediate leader in the fitness tracking space,” said Sean Naughton with Piper Jaffray investment service. This transaction is likely a move to help the company compete with Nike’s fitness monitoring services.