Under Armour buys MyFitnessPal for 475 million dollars

Athletic apparel brand Under Armour Inc. (UA) has agreed to acquire MyFitnessPal for 475 million dollars, in a deal that expands the retailer's digital fitness platform.

Under Armour said the addition of MyFitnessPal adds nutritional resources such as a calorie counter, nutrition and exercise tracker to its offerings.

Although fine detail of the deal are still to be undisclosed, it is expected to close in the current quarter, also is expected to complement the company's recent acquisitions of MapMyFitness and Endomondo.

The company also reported that its fourth-quarter profit rose 37 percent driven by continued strength in apparel and footwear sales.

On the wake of the news, shares rose 2.7 percent to 75.56 dollars in recent after-hours trading as sales for the latest quarter topped expectations.