SBD Global/February 6, 2014/Finance

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  • Adidas Sues Under Armour Over Patent Infringement Of Tracker Devices

    A court filing showed that adidas sued Under Armour in a U.S. court "over alleged infringement of patents governing fitness training and tracker devices," according to Sakthi Prasad of REUTERS. The lawsuit "relates to products sold by fitness technology company MapMyFitness," which Under Armour bought for $150M in November. MiCoach fitness training devices manufactured by adidas "offer real-time audible coaching and a web application to help people optimize their workout sessions." MapMyFitness "provides users with the ability to map, record and share their workouts utilizing GPS and other technologies," which is contested by adidas. In a lawsuit filed with the Delaware court on Tuesday, adidas said Under Armour and MapMyFitness "willfully infringed" the German company's 10 patents. Adidas also said that "both the companies had prior knowledge of the patents but still went ahead with their offerings" (REUTERS, 2/5).

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  • Handball Bundesliga Club THW Kiel Loses Close To Half A Million During '12-13 Fiscal Year

    Handball Bundesliga (HBL) club THW Kiel "has lost close to half a million euros during the '12-13 fiscal year," according to NDR. The club reportedly lost €443,000 during the previous season. The number means that Kiel "has lost more than €1M over the past three years." The club "refused to comment on the result." However, its shareholders "will hold a meeting on Thursday." A THW spokesperson said, "There, the annual accounts will be discussed" (NDR, 2/4).

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