Under Armour buys MapMyFitness in $150 million wearable computing play
The convergence of software, clothing and wearable computing is picking up as Under Armour has acquired MapMyFitness, a community of athletes sharing workouts and data, for $150 million.
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For Under Armour, the acquisition will give the athletic clothing company more digital knowhow and platforms. Nike is quickly becoming a software company in many respects with its FuelBand and apps.
The upshot here is that most clothing in a few years will be wired with sensors of some sort and brands are going to need software expertise. These sensors will be able to track and share everything from heart rate to exercise to stress levels. The enterprise applications will range from health discounts for insurance as well as overall well being.
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Under Armour's plan is to take MapMyFitness and create an "elevated training experience." MapMyFitness brings a community of 20 million to Under Armour, which will presumably sell these athletes training gear.
Gartner estimated that 30 billion things will be connected via sensors and every product over $100 will be smart. People are collecting data and quantifying themselves all the time and increasingly presenting business model ideas.
In the MapMyFitness acquisition, Under Armour will also get developer talent to better compete with Nike, which has its own developers as well as business savvy engineers deployed as swat teams.