Originally published at www.seclive.com
Filing in Focus: Under Armour 8-K, November 18, 2013
Under Armour, Inc. (NYSE:UA) announced recently that it has entered an agreement to purchase software company MapMyFitness. The transaction, involving $150M in cash, is expected to close by year's end, and will involve Under Armour using some cash on hand and funds under its revolving credit facility. This move by Under Armour marks an important step as it ventures further into the digital fitness scene. Digital fitness has seen continued expansion as users and athletes rely more on the ability to track progress and statistics in real-time as a way of measuring performance accurately while also logging history. CEO Kevin Plank remarked that this is an area of the digital market that has been largely left alone, and that there are many advances and opportunities available to grow and expand the technology.
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