Sports clothing company Under Armour is buying two fitness apps for a combined price of $560 million.

This is Under Armour's latest move as it expands its fitness empire.

The company announced Wednesday it is buying fitness tracking apps, MyFitnessPal and Endomondo in a bid to create an athletics-minded online network.

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MyFitnessPal is an app that lets users track their diet and workouts through their smartphones.  The app has more than 80 million registered users. Endomondo, on the other hand, is a Danish start-up that aims to be a virtual fitness coach.  It has 20 million registered users, 80 percent of whom live outside the United States.

"Under Armour's demonstrated global leadership in health and fitness innovation is greatly enhanced with the addition of Endomondo and MyFitnessPal, as we continue to redefine and elevate the Connected Fitness experience for millions of people around the world," Kevin Plank, Under Armour's chairman and chief executive, said in a statement.

MyFitnessPal was valued at $475 million and Endomondo at $85 million. These numbers mean a decent exit for the company's existing investors.

Accel Partners and Kleiner, Perkins, Caufield & Byers invested $18 million in MyFitnessPal in 2013. Each investor had a seat in the board.

Endomondo had come up with $8.2 million from angel investors and investment firm Seed Capital.

Under Armour's expansion efforts began in 2013 with the acquisition of MapMyFitness for $150 million.

TagsUnder Armour, fitness, MyFitnessPal, Sports