The Adidas Group has just announced that it has recently acquired all outstanding shares of Runtastic GmbH, adding a fitness app to the Adidas business. The transaction is said to have an enterprise value of €220 million.
Adidas Group Chief Executive Officer Herbert Hainer has said that the acquisition of the Runtastic app will allow the Adidas Group to use digital technologies to help all kinds of athletes “take control of their sporting destiny.” This means, being able to help them improve their performance or simply share their moments and experience.
Business As Usual For Runtastic
Meanwhile, Runtastic Chief Executive Officer and Co-Founder Florian Gschwandtner believes that Adidas makes for a “perfect strategic partner” for Runtastic. In Runtastic’s blog, Gschwandtner has also stated that business will be, pretty much, as usual following the acquisition.
In fact, he said that “Runtastic will remain its own entity,” just within the Adidas group. Moreover, the app will also continue to operate from its current offices located in Linz, Austria, Vienna and San Francisco. And in fact, they remain committed to releasing a new app by the end of 2015.
Based in Austria, Runtastic was founded back in 2009 and its apps has had more than 140 million downloads and about 70 million registered users since. The Runtastic app is offered in 18 languages and runs on a multi-app strategy made up of more than 20 apps that offer health, endurance, and fitness activities.
Runtastic apps include Runtastic Me, Runtastic Pro, Road Bike, Pedometer, Heart Rate, Altimeter and Sleep Better.