Break out the popcorn, there was some heavy corporate movement today on the wearable technology front. You see, there are two ways old companies can break into this new field, they can design their own amazing stuff like how Sony and Samsung have done or they can simply buy another company that has shown to be making great strides in wearable tech. Both techniques have their merits. After all, just knowing which upstart companies are doing innovative stuff is a skill unto itself. On that note, we have Under Armour, who have been quite the stalwart in the, uh, burgeoning fields of underwear and gym shorts.
However, that’s not entirely fair. For the past decade or so, Under Armour has been producing interesting watches and for the past few years they have been dipping their toes in the world of fitness tracking devices. Now they might be merging these two worlds as the company has recently acquired the Internet’s most popular fitness tracking app, MapMyFitness. What does this mean for the company? It means they will no doubt be coming out with more watches and fitness trackers that implement that functionality at the very basest level. This could potentially be a game changer for Under Armour, or at the very least get them in the game.
The deal reportedly cost Under Armour around 150 million buckaroos, which is quite a lot of pairs of old gym shorts. We’ll let you know more once we find out more details of the merger.