MapMyfitness will become a wholly-owned subsidiary of Under Armour, but they will continue to operate out of their headquarters in Austin, Texas. Valued at $150 million, the deal is expected to close by the end of 2013. Under Armour seeks to add depth to its digital capability, offering athletes an elevated training experience through new digital products and platforms. To that end, MapMyFitness offers athletes the ability to map, record, and share their workouts throughout the community. During the deal, Under Armour received its advice from investment banking advisory firm Peter J. Solomon Company with the joint help of King & Spalding law firm. MapMyFitness was advised by Allen & Company and supported by the law firm Wilson Sonsini Goodrich Rosati, Professional Corporation.
