Adidas acquires fitness app maker Runtastic for $240m
Adidas has acquired Runtastic, maker of fitness apps and gadgets, for nearly $240m in an effort to expand its digital capabilities.
Founded in 2009 and based in Austria, the company said it has about 70 million registered users. It offers more than 20 apps that cover endurance, health, and fitness activities.
It also offers hardware including a heart rate monitor and GPS devices.
In a statement, Adidas said it “has found a perfect partner that fully understands the potential of the convergence of sport, digital and data in an always connected and always on-demand world.”
Herbert Haner, CEO of Adidas, said: “This investment will add considerable value on our journey to deliver new world-class sports experiences. In addition, it offers the opportunity to grow a highly engaged athlete user base and leverage the power of our broad product portfolio. Therefore, I am very happy to welcome Runtastic’s passionate employees and their 70 million active athletes and sports lovers to the Adidas Group family.”
According to Runtastic, it will remain its own entity and will continue to operate from its offices in Austria and San Francisco.