Adidas has bought fitness tracking app maker Runtastic at an enterprise value of € 220 million. The acquisition reinforces the adidas Group’s commitment to inspire and enable athletes of all levels to harness the power of sport in their lives.
Founded out of Austria in 2009, Runtastic has built a solid reputation in the digital fitness realm over the past five years, primarily for its flagship GPS fitness tracking app, racking up millions of downloads along the way. Runtastic offers over 20 apps covering a variety of endurance, health and fitness activities in 18 languages. The company has also launched a ton of hardware, too, including GPS watches and smartphone mounts for bikes. The apps help users at building six-packs, working out at home, and even improving your sleep. And late last year, Runtastic entered the virtual reality (VR) fray with a new fitness app for Oculus Rift.
