Under Armour to Acquire Fitness Technology Company

Under Armour is buying the popular workout application company MapMyFitness for $150 million, putting the sports apparel maker in charge of one of the biggest social sports communities on mobile devices. The Baltimore-based company says it agreed to buy the app maker to broaden its existing digital offerings and augment plans to become a premiere sports company. MapMyFitness, which launched in 2007 and is based in Austin, Tex., counts 20 million registered users, 9 million of which use its service on a monthly basis and 700,000 of which use it daily.