Under Armour sells health-tracking app MyFitnessPal to Francisco Partners
Under Armour, a global leader in branded athletic performance apparel, footwear and accessories, announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners for $345 million. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. â€œThe transaction value is $345 million, inclusive of the achievement of potential earn-out payments and subject to working capital and other customary adjustments. Paul Hastings LLP and Kirkland & Ellis LLP are acting as legal advisors to Francisco Partners.