content Rounds. 10/30/2020. Francisco Partners' $345 Million Acquisition of MyFitnessPal November 3, 2020 Ambrogio Visconti Paul Hastings LLP advised Francisco Partners on the deal. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. BALTIMORE Under Armour, Inc. (NYSE: UA, UAA), a global leader in branded athletic performance apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners. Be prepared for the day. AquaMagis. Every day, we work together to ensure the well-being of our sports partners. The MapMyFitness platform, which includes MapMyRun and MapMyRide, remains a crucial element of Under Armour's digital strategy, as does its connected footwear business. /marketintelligence/en/news-insights/latest-news-headlines/myfitnesspal-receives-loan-to-fund-lbo-by-francisco-partners-61980671 MyFitnessPal | Investments | Francisco Partners MidCap Financial was administrative agent and sole lead arranger. Last Funding. If you have previously opted in to receive email marketing communications from Under Armour you will continue to do so after the transaction. Francisco Partners to Acquire MyFitnessPal - Let's Talk Deals Paul Hastings LLP and Kirkland & Ellis LLP are acting as legal advisors to Francisco Partners. . PJ Solomon was financial advisor to Under Armour on the. "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. Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear and accessories. The Italian Revenue Agency Qualifies Directors Reversible Remuneration For The Purposes Of Double Taxation Agrements. answered! In addition to nutrition and fitness tracking, MyFitnessPal also offers a variety of meal plans, recipes, and on-demand video workouts to guide users on their nutrition and fitness journeys. Read more about our acquisition of MyFitnessPal and the full list here: https://www.themiddlemarket.com/news-analysis/mergers-acquisitions-names-the-2021-top-10-middle-market-deals-of-the-year. BALTIMORE -- Under Armour, Inc. (NYSE: UA, UAA), a global leader in branded athletic performance apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners. All Rights Reserved. After failing to integrate the digital platform into the broader business and without a coherent strategy for the online application, Under Armour is choosing to divest of the entity at a $130 million loss or a 28% discount to its original purchase price; the loss is particularly staggering given the premiums being paid for most software companies at the moment, in one of the hottest M&A markets since 2017. To track nutrients, users can either scan the barcodes of various food items or manually find them in the app's large pre-existing database MyFitnessPals vision is to make good health attainable and sustainable for everyone. EX-99.1 - SEC.gov Global fitness giant Under Armour announced this morning that it will be selling MyFitnessPal to investment firm Francisco Partners for $345 million, five and a half years after acquiring it for . For more information on Francisco Partners, please visit www.franciscopartners.com. Show prices. The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. 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. Market Intelligence MyFitnessPal provides consumers with an all-in-one nutrition and fitness tracking platform. MyFitnessPal | Francisco Partners Job Board Dell Software . Powered by one of the world's largest digitally connected fitness and wellness communities, Under Armour's innovative products and experiences are designed to help advance human performance, making all athletes better. Since its launch over 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding . Vendavo . The Endomondo platform's operations will be shut down towards the end of 2020. 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Gyasi and Continues Strategic Growth, Cultural Heritage Sites With Restrictions On Intended Use: The Council of State Acknowledges That This Power Lies In the Hands Of The Ministry Of Culture. share BALTIMORE, Oct. 30, 2020 - Under Armour, Inc. (NYSE: UA, UAA), a global leader in branded athletic performance apparel, footwear and accessories, today announced that it has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners. Your MyFitnessPal user data will stored by MyFitnessPal. Readers are cautioned not to place undue reliance on these forward-looking statements. MyFitnessPal . Mergers & Acquisitions named Francisco Partners carveout of MyFitnessPal from UnderArmour as one of 2021's Top 10 Middle-Market Deals of the Year. "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. You can always unsubscribe from these emails here. The business (ticker: UAA) announced on Friday that it had agreed to a $345 million deal with private equity firm Francisco Partners for the app. You can change your choices at any time by clicking on the 'Privacy & cookie settings' or 'Privacy dashboard' links on our sites and apps. In conjunction with this announcement, the company also announced that it would discontinue its . Glorious Announces Strategic Growth Investment from Francisco Partners Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding the expected sale of our MyFitnessPal business and related benefits to our company. , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, UNDER ARMOUR ANNOUNCES FIRST QUARTER FISCAL 2024 EARNINGS CONFERENCE CALL DATE, UNDER ARMOUR ANNOUNCES CHANGES TO EXECUTIVE LEADERSHIP TEAM. MyFitnessPal & Francisco Partners FAQs MyFitnessPal receives loan to fund LBO by Francisco Partners, Supplier Financial Health Management: What You Need To Know, Debt Ceiling Debate: IR Teams Should Prepare for Potential Market Downturns, Essential IR Insights Newsletter - March 2023, Continuous Financial Health Management of Suppliers. Several important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, but not limited to those identified in our most recent annual and quarterly reports filed with the Securities and Exchange Commission. Technology-focused private equity firm Francisco Partners (FP) announced their acquisition of MyFitnessPal from Under Armour (NYSE: UA), in a transaction valued at $345 million. Read more . The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. Under Armour to sell MyFitnessPal for $345 million, after acquiring it Hagen-Haspe, North Rhine-Westphalia, Germany Current Weather | AccuWeather Investor. Covering the Private Equity & Venture Capital Markets. Upon completion of the transaction, only MyFitnessPal Under Armour has agreed to sell fitness tracking app MyFitnessPal to private equity firm Francisco Partners for $345 million. Under Armour agrees MyFitnessPal sale for US$345m - SportsPro Dell Software acquired by Francisco Partners . MyFitnessPal is currently reported within Under Armour's Connected Fitness segment, which also contains the MapMyFitness and Endomondo platforms. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. The smartphone app provides powerful tools that make it easier for everyone to live a healthier life by tracking meals and physical activity. Some of the statements contained in this press release constitute forward-looking statements. By signing up you agree to receive content from us. Evaluate their financials based on MyFitnessPal's post-money valuation and revenue. https://www.themiddlemarket.com/news-analysis/mergers-acquisitions-names-the-2021-top-10-middle-market-deals-of-the-year. First funding. Several important factors could cause actual results to differ materially from those indicated by the forward-looking statements, including, but not limited to those identified in our most recent annual and quarterly reports filed with the Securities and Exchange Commission. Paul Hastings LLP and Kirkland & Ellis LLP are acting as the legal advisors to Francisco Partners. Under Armour completes sale of the MyFitnessPal platform to Francisco Under Armour : Enters Into Definitive Agreement To Sell The SatixFy, a Leader in Next-Generation Satellite Communication Systems content to which youve grown accustomed. Any applications, including MapMyRun, that you may have linked to your MyFitnessPal account will continue to The deal is set to officially close in the fourth quarter, and its value is inclusive of potential . Under Armour, a manufacturer of sports, and casual apparel, announced that it has entered into a definitive agreement to sell its MyFitnessPal app to Francisco Partners for $345 million, five and a half years (February 2015) after acquiring it for $475 million.. MyFitnessPal fitness app allows users to track their calories and share that information with friends, raised $18.2 million (in 2013 . Check the current conditions for Hagen-Haspe, North Rhine-Westphalia, Germany for the day ahead, with radar, hourly, and up to the minute forecasts. Since its launch over 20 years ago, Francisco Partners has raised over $24 billion in committed capital and invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With Francisco Partners as our new, eventual owner, well be able to tap into greater Since its founding in 2005, MyFitnessPal has developed the worlds largest user-generated food database with over 320 million unique foods. Paul Hastings LLP and Kirkland & Ellis LLP are acting as legal advisors to Francisco Partners. PBV Monitor is a Registered publications at Milan Court Press Register n. 347/2012 2023 Francisco Partners. What was the price at which Under Armour sold MyFitnessPal? MyFitnessPal Inc. received a senior secured credit facility as part of a private equity buyout, market sources said today. The transaction value is $345 million, inclusive of the achievement of potential earn-out payments and subject to working capital and other customary adjustments. If you would like to customise your choices, click 'Manage privacy settings'. Premium users can export their data by following, To delete your data, you will need to delete your account by following. sync. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "assumes," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology. 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Under Armour Sells MyFitnessPal to Francisco Partners for $345 Million The platform includes a blog that is updated daily with topics covering everything from healthy recipes to personal hygiene. Avangate acquired by Francisco Partners . Divisional Carve-Outs. . Under Armour Enters Into Definitive Agreement To Sell The MyFitnessPal There is a lot of risk in all deals, but those in the market also know that most software businesses trade above 3.5x recurring revenues (significantly more for high growth and enterprise software firms). For further information, please visit https://about.underarmour.com. In conjunction with this announcement, the company also announced that it would discontinue its Endomondo platform's operations at the end of 2020. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Yes. esgSubNav, Discover more about S&P Globals offerings, IN/sights: 2023 Mid-Year Review and Outlook for U.S. Insurers, Sustainability In Focus: Assessing Your Journey. Transaction implies a pro forma implied equity value of the combined. Paul Hastings LLP and Kirkland & Ellis LLP are acting as legal advisors to Francisco Partners. Type. Partners, a leading global private equity firm that specializes in investments in technology and technology-enabled Who Owns My Fitness Pal Only 5-years ago, Under Armour, a global leader in sports apparel and equipment, purchased the diet and exercise tracking app for $475 million. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! All Rights Reserved. Francisco Partners Acquires MyFitnessPal On October 30, 2020, private equity firm Francisco Partners acquired internet software and services company MyFitnessPal from Under Armour for 345M USD Acquisition Highlights This is Francisco Partners' 15th transaction in the Internet Software and Services sector. Under Armour announced late last week that it is selling off MyFitnessPal to investment firm Francisco Partners for $345 million - a fair bit lower than the $475 million it paid for the connected fitness app and platform back in 2015. remain accessible to you. "MyFitnessPal supports over 200 million users in their ongoing health and fitness journeys and we are excited to partner with the business for its next stage as a standalone company to continue a strong history of recurring revenue growth, organic user acquisition and a unique consumer proposition," said Christine Wang, Principal at Francisco Partners. In conjunction with this announcement, the company also announced that it would discontinue its Endomondo platform's operations at the end of 2020. BALTIMORE, Oct. 30, 2020 /PRNewswire/ -- Under Armour, Inc. (NYSE: UA, UAA), a global leader in branded athletic performance apparel, footwear and accessories, today announced that it has entered. Francisco Partners Through our private equity and credit funds, we provide flexible capital and partnership to growth-aspiring technology companies. Location Privacy policy San Francisco, CA 97129 +1 (415) 418 2900 London, SW1V 1AN +44 (020) 7907 8600 1114 Ave. of the Americas New York, NY 10036 +1 (646) 434 1343 (opens in new window) Explore careers Under Armour Enters Into Definitive Agreement To Sell The MyFitnessPal Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, levels of activity, performance, or achievements. Boeddinghauser Feld 1, 58840 Plettenberg, North Rhine-Westphalia, Germany. "MyFitnessPal supports over 200 million users in their ongoing health and fitness journeys and we are excited to partner with the business for its next stage as a standalone company to continue a strong history of recurring revenue growth, organic user acquisition and a unique consumer proposition," said Christine Wang, Principal at Francisco Partners. Francisco . Under Armour sells off MyFitnessPal for $345M, will - MobiHealthNews The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. The firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. Additionally, it affords us investment flexibility to drive greater return and value to our shareholders over the long-run.". with our portfolio companies. Share. M&A Names Francisco Partners' Acquisition of MyFitnessPal as 2021 Health & Fitness Deal of the Year. Francisco Partners has agreed to acquire MyFitnessPal, a fitness app, from Under Armour Inc. expertise, additional resources and greater capabilities to bring even more exciting features to you in the future. PJ SOLOMON has served as exclusive financial advisor to Under Armour on the transaction. M&A Names Francisco Partners' Acquisition of MyFitnessPal as 2021 Health & Fitness Deal of the Year. Francisco Partners Acquires MyFitnessPal | Mergr M&A Deal Summary 135 reviews.

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