Mette Lykke, the CEO and co-founder of Endomondo. Photo: Nikolai Linares/Scanpix
The Copenhagen-based social fitness app Endomondo was purchased by American athletic apparel giant Under Armour for $85 million (554 million kroner), the companies announced on Wednesday.
Under Armour also shelled out $475 million to purchase the health tracker MyFitnessPal.
Endomondo has attracted more than 20 million users since its launch in 2007. More than 80 percent of its users are located outside of the United States, which Under Armour said in a press release would give them “immediate scale and increased international presence”.
The app tracks exercise activity like jogging, cycling and a host of other sports and can monitor a user’s pace and heart rate during workouts. The app has a social element that allows users to share the exercises with their friends and complete in challenges to see who can track the most kilometres or burn the most calories.
In announcing the purchase of Endomondo and MyFitnessPal, Under Armous said it was creating “the world's largest digital health and fitness community”.
"Endomondo has built an engaged global community of fitness enthusiasts, providing a strong technical platform for our users, while adhering to our core belief that social interaction and support are key motivators when it comes to getting fit and maintaining a healthy lifestyle," Mette Lykke, Endomondo’s co-Founder and CEO, said in a statement. "We share in Under Armour's passion for innovation, as well as its mission to make athletes better, and we look forward to better serving the needs of athletes around the world."
Endomondo’s sale had been rumoured since January. Under the purchase agreement, it will operate as a wholly-owned subsidiary and remain in its Copenhagen headquarters.