“Additionally, it affords us investment flexibility to drive greater return and value to our shareholders over the long-run.”
“This announcement 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,” he said in a news release. Under Armour President and CEO Patrik Frisk said the planned sale was part of a shift by the company to simplify its brand. Its main feature is a database of foods for nutrition tracking, but it also has a paid subscription version with nutrition plans and recipes. MyFitnessPal, which has been around since 2005, has drummed up more than 200 million users.
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