Under Armour, still not very popular in Europe, is a sportswear company that recently overtook adidas in the US. With regards to the internet of things and connected products, the sports wear companies - in my eyes - may be disrupted heavily since they all ventured into electronic hardware (remember the fuel band), but may have failed to extend their mission for the new digital era: besides fashion, sports wear always promised to support your performance in the best possible way. In our time, this may not only be achieved my the fabric of my shirt or the gel in my shoe's soles, but more and more with data and intelligent guidance based on data. I myself have lost 18kg during 2014 - wiuth the help of MyFitnessPal. Although I was wearing Nike and Asics shoes to run, I cannot credit them. It was the app all the way. Now UnderArmour bought MyFitnessPal (80 million registered users) for 475 million USD, and Endomondo, a fitness tracking app, as well. I can't have an opinion on the size of the transaction from the outside, but moving to become a performance supporter that accidentally sells equipment rather than being a sports equipment company that, just because others do it, also offers some tracking features, looks like a very reasonable strategy to me.
My own longer take on it: