3 Firms Forge Under Armour's $345M Sale Of MyFitnessPal
Law360 (October 30, 2020, 12:11 PM EDT) -- Under Armour Inc. has agreed to sell fitness and health-tracking app MyFitnessPal to private equity firm Francisco Partners for $345 million, the companies said Friday, in a deal put together with help from King & Spalding, Paul Hastings and Kirkland & Ellis.
The deal adds to Francisco Partners' portfolio a business in San Francisco-based MyFitnessPal that boasts more than 200 million users, according to a statement. MyFitnessPal helps users achieve and maintain health and fitness goals, provides nutritional information for foods and offers calorie counts and data associated with hundreds of exercises.
For Under Armour, the divestiture provides capital with which...
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