Under Armour (UA) has entered into a definitive agreement to sell the MyFitnessPal platform to Francisco Partners, a global investment firm specializing in technology businesses, headquartered in San Francisco. MyFitnessPal, an activity tracker that helps around 200 million users in their health and fitness activities, will become a stand-alone company. The transaction, valued at $345 million, is expected to close in the fourth quarter of 2020, subject to customary closing conditions and regulatory approvals. PJ Solomon served as the exclusive financial advisor to UA on the transaction while King & Spalding has acted as legal advisor. MyFitnessPal is currently part of UA’s Connected Fitness segment, which also comprises the MapMyFitness and Endomondo platforms. In conjunction with the announcement of the sale of MyFitnessPal, the company has also announced that it will discontinue the operations of the European-based Endomondo platform at the end of 2020.