The transaction, which is expected to close in the fourth quarter of 2020, is subject to customary closing conditions and regulatory approvals. Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear and accessories. Presumption of Tax Inversion: The Italian Supreme Court Clarifues That Mediated Control Is Not Relevant. All Rights Reserved. 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. 0.2 miles from Wuppertal Central Station. Under Armour may however retain limited marketing related Readers are cautioned not to place undue reliance on these forward-looking statements. MyFitnessPal . Francisco Partners announced its definitive agreement to acquire the MyFitnessPal platform from Under Armour. King & Spalding LLP is acting as legal advisor. The sale closed in December 2020. latest-news-headlines For further information, please visit https://about.underarmour.com. Francisco Partners . Only 5-years ago, Under Armour, a global leader in sports apparel and equipment, purchased the diet and exercise tracking app for $475 million. Francisco Partners To Acquire MyFitnessPal from Under Armour USA Published on November 2, 2020 Under Armour, Inc. (NYSE: UA, UAA), a global leader in branded athletic performance apparel,. As part of an ongoing strategic transformation, Under Armour announced plans today to sell MyFitnessPal to Francisco 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 . /marketintelligence/en/news-insights/latest-news-headlines/myfitnesspal-receives-loan-to-fund-lbo-by-francisco-partners-61980671 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. The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. Users can choose from a of variety apps (i.e., step trackers, calorie counters), leverage third-party plugins (i.e., Garmin, Fitbit), and connect with others through the MyFitnessPal Community to support individualized fitness plans. First funding. with our portfolio companies. The MyFitnessPal platform This content is for members only. , . 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. The transaction, which is expected to close in the fourth quarter of 2020, is subject to customary closing conditions and regulatory approvals. Through our private equity and credit funds, we provide flexible capital and partnership to growth-aspiring technology companies. Additionally, it affords us investment flexibility to drive greater return and value to our shareholders over the long-run.". News and Awards May 05, 2021 . Specialists, Flexible Francisco Partners is a leading technology investment firm with deep sector focus and a track record of delivering outstanding returns. Oct 30, 2020. The deal is set to officially close in the fourth quarter, and its value is inclusive of potential . more details as they are made available, but in the meantime, please check out our FAQs to get your questions The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. Cloud-native log management and analytics platform for engineers, IT and security professionals 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. MyFitnessPalis currently reported within Under Armour's Connected Fitness segment, which also contains the MapMyFitness and Endomondo platforms. Partners, a leading global private equity firm that specializes in investments in technology and technology-enabled Sector All rights reserved. Under Armour emails, you can always unsubscribe from these emails by accessing the link in the email footer. https://www.themiddlemarket.com/news-analysis/mergers-acquisitions-names-the-2021-top-10-middle-market-deals-of-the-year. 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. The Endomondo platform's operations will be shut down towards the end of 2020. , , , , , , 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. Paul Hastings LLP and Kirkland & Ellis LLP are acting as legal advisors to Francisco Partners. MyFitnessPal is the leading mobile nutrition and fitness tracking application.MyFitnessPal provides consumers with an all-in-one nutrition and fitness tracking platform. 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. 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. share 135 reviews. 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). Francisco Partners . Mit Ihrer Anmeldung erklren Sie sich damit einverstanden, Inhalte von uns zu erhalten. The smartphone app provides powerful tools that make it easier for everyone to live a healthier life by tracking meals and physical activity. Your current MyFitnessPal account will continue to be active. En vous inscrivant la newsletter, vous consentez la rception de contenus de notre part. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. March 29, 2021 08:00 AM Eastern Daylight Time. 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. Acquiring Organization: Francisco Partners Francisco Partners is a global investment firm that specializes in partnering with technology and technology-enabled businesses. personal data for those MyFitnessPal users that have opted in to Under Armour marketing emails. Yes. M&A Names Francisco Partners' Acquisition of MyFitnessPal as 2021 Health & Fitness Deal of the Year, Francisco Partners Announces Acquisition of MyFitnessPal from Under Armour, Explore careers with our portfolio companies. Under Armour has agreed to sell fitness tracking app MyFitnessPal to private equity firm Francisco Partners for $345 million. Vendavo acquired by Francisco Partners . MyFitnessPal is currently reported within Under Armour's Connected Fitness segment, which also contains the MapMyFitness and Endomondo platforms. 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. Show prices. You can contact Customer Happiness at support.myfitnesspal.com. 3. . Headquartered in San Francisco, California, MyFitnessPal is a health tracking app that boasts the largest nutrition database in the world, with more than 5 million foods, and it currently supports more than 200 million registered users navigate their health and wellness journeys. Francisco Partners Recognized as Best Overall Debt Performer in Hedgeweek's U.S. Credit Awards, Ezra Perlman and Justin Chen Named to GrowthCap's Top 25 Healthcare Investors of 2023 List, Drawbridge Recognized as a 2023 Middle-Market Deal of the Year by Mergers & Acquisitions, Trellis Rx Recognized as Middle-Market Deal of the Year by Buyouts Insider, Francisco Partners Recognized by HEC Paris-DowJones as a Top Performer in 2022, Francisco Partners Announces Completion of Fundraising, Closes on Nearly $17 Billion, Learn More About FP's Approach to Divisional Carve-Outs, TS Imagine Recognized as Middle-Market Deal of the Year by M&A, Francisco Partners Sells Forcepoint's G2CI Business to TPG, Francisco Partners Acquires Macrobond; Focuses on Growing its Global Presence, GreenSlate Announces Strategic Growth Investment from Francisco Partners, Sumo Logic to be Acquired by Francisco Partners for $1.7 Billion, Glorious Announces Strategic Growth Investment from Francisco Partners, TouchBistro Raises $150M From Francisco Partners to Accelerate Growth and Pursue Acquisitions, Acoustic Announces Strategic Growth Investment from Francisco Partners, Francisco Partners Expands Senior Operating Team with Key Hires, Francisco Partners Named to Inc.s 2022 List of Founder-Friendly Investors, Trellis Rx Recognized for PEI Operational Excellence Awards, Francisco Partners to Acquire bswift from CVS Health, Francisco Partners Makes Key Strategic Hires as Firm Invests in Growth, Reciprocity Announces $60M Growth Investment from Francisco Partners, Francisco Partners Recognized by GrowthCap as a Top 25 Private Equity Firm, Francisco Partners Hires Ashley Evans as Partner, Kobalt Selects Francisco Partners to Invest In Companys Next Phase, Drawbridge Announces Strategic Growth Investment from Francisco Partners, Francisco Partners to Acquire Litmos from SAP, Francisco Partners Joins UN-backed Principles for Responsible Investment, Francisco Partners' $250 Million Term Loan Investment in 8x8, Francisco Partners Launches Healthcare Data Company Merative, Francisco Partners Announces Sale of Trellis Rx, Veson Nautical Announces Significant Growth Investment from Francisco Partners, Francisco Partners Announces Sale of Discovery Education, Explore careers with our portfolio companies. With Francisco Partners as our new, eventual owner, well be able to tap into greater 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. #8 of 98 things to do in Wuppertal. MyFitnessPal has more than 200 million users and was among several platforms owned by Under Armour as part of its connected fitness division. Under Armour, Inc., headquartered in Baltimore, Maryland, is a leading inventor, marketer and distributor of branded athletic performance apparel, footwear and accessories. Cision Distribution 888-776-0942 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 . Paul Hastings LLP and Kirkland & Ellis LLP are acting as legal advisors to Francisco Partners. All Rights Reserved. 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. M&A Names Francisco Partners' Acquisition of MyFitnessPal as 2021 Health & Fitness Deal of the Year, Explore careers with our portfolio companies. Deal Facts. M&A Names Francisco Partners' Acquisition of MyFitnessPal as 2021 Health & Fitness Deal of the Year. MidCap Financial was administrative agent and sole lead arranger. Some of the statements contained in this press release constitute forward-looking statements. Mergers & Acquisitions named Francisco Partners carveout of MyFitnessPal from UnderArmour as one of 2021's Top 10 Middle-Market Deals of the Year. "Visited Aqua Magis in a big and quite new cabin for 5 days with 5 persons in my family. 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. Board Seats. 2023 Francisco Partners. authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. 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. Dell Software . All Rights Reserved. 5 Jan, 2021 MyFitnessPal receives loan to fund LBO by Francisco Partners Author Abby Latour Theme Leveraged Finance & High Yield MyFitnessPal Inc. received a senior secured credit facility as part of a private equity buyout, market sources said today. Although plans for the acquisition were not disclosed by FP, the playbook presumably includes: reducing operating expenses that have likely increased as a percentage of revenues under the broader umbrella of the previous public-company ownership; upgrading the existing software, which users say has not been updated in at least 5-years; and transitioning the free-mium service to a purely subscription-based recurring revenue model. Market Intelligence Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. MyFitnessPal provides consumers with an all-in-one nutrition and fitness tracking platform. Some of the statements contained in this press release constitute forward-looking statements. content to which youve grown accustomed. Assuming a 1x recurring revenue multiple would imply a total enterprise value of $500 million or a 45% premium to FPs purchase price. 10/30/2020. 2023 Francisco Partners. We can rely on our passionate and hard-working team, on every single day! No. 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. PJ SOLOMON has served as exclusive financial advisor to Under Armour on the transaction. At the time, the announcement caused the athleticwear . from 8 AM - 9 PM ET. Find out more about how we use your personal data in our privacy policy and cookie policy. 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.

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