Independent investment bank Mooreland Partners has acted as the exclusive financial advisor to Endomondo on its sale to Under Armour (NYSE: UA).
Based in Copenhagen, Denmark, Endomondo is a leading connected digital fitness platform that boasts a global social fitness network of 20 million registered users. The company's software tracks users' fitness activities, and motivates its community with world-leading social networking features as well as personalised training programs. Endomondo has built one of the largest, most active and engaged online fitness communities in the world.
"We are pleased to have played a role in this groundbreaking transaction in the digital fitness space. The acquisition of Endomondo bolsters Under Armour's digital presence, significantly grows its digital community and strengthens its foothold in the European connected fitness market," says Victor Garcia, Managing Director, Mooreland Partners.
Based in Baltimore, Maryland, Under Armour is a leading provider of performance sports footwear, apparel and accessories, revolutionising how athletes across the world dress. Designed to make all athletes better, the brand's innovative products are sold worldwide to athletes at all levels. The acquisition of Endomondo is Under Armour's second in the digital fitness space, having acquired MapMyFitness in November 2013.