Off the wire
• Roundup: U.S. stocks end narrowly mixed after two-day surge  • Roundup: New Greek gov't lobbies across Europe for solution to its debt  • Egypt keeps Suez Canal transit rates unchanged in 2015  • Hollande hails encouraging results of Ebola treatement trial  • Italian economic recovery to consolidate in 2015: study  • Portugal's General Workers' Union says fall in unemployment "positive" but concerns remain  • Fabrics remain driving force of Italian economy  • Czech cabinet postpones decision on sale of L-159 fighters to Iraq  • UN chief sees 70th anniversary of United Nations as "important moment for serious reflections"  • Portugal's unemployment rate rises in Q4 of 2014  
You are here: 　 Home

1st LD Writethru: Danish sports app company Endomondo sold to Under Armour

Xinhua, February 5, 2015 Adjust font size:

Danish company Endomondo, a social fitness network and publisher of mobile apps, has been acquired by U.S. athletic apparel maker Under Armour, local media reported Wednesday.

Under Armour purchased the Copenhagen-based company at a price of 575 million Danish kroner (or 85 million U.S. dollars), according to the Danish news agency, Ritzaus.

Founded in 2007 by fitness enthusiasts Mette Lykke, who serves as its CEO, Christian Birk, and Jakob Joenck, Endomondo rolled out apps that allow users to track their workouts and challenge friends. The company boasted 20 million users by 2013.

"Endomondo has helped so many people find the joy of exercise, and as part of Under Armour we can reach out to even more people globally," Lykke was quoted by Ritzaus as saying.

"We will still be Endomondo with a focus on making exercise fun and our team will continue to be based in Copenhagen," she said.

The Endomondo app is available on iOS, Android, Windows Phone and Blackberry. It is designed to track activity like walking, running, cycling and other distance sports.

"For users, this means that we will have more resources to grow and improve the product," Lykke added.

Founded in 1996, Under Armour, a leading company in sports clothing and footwear, had a turnover of 2.332 billion U. S. dollars in 2013. Endit