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Fitness App Maker Runtastic Gets Acquired By Adidas For $240 Million

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Fitness app maker Runtastic, a firm developing fitness apps for past five years, has announced via a blog post, that it has been acquired by Adidas group for €220 million ($240M). The deal was signed and closed today.

Runtastic, a company born out of Austria in 2009, has been developing fitness apps, since the time fitness tracking apps and wearables was just beginning to see a surge in growth. Now though, as we all are well aware, fitness trackers have become a common phenomena.

The company currently has over 20 health and endurance apps under the Runtastic banner, with products in the hardware space with as well. These include wearables and other fitness monitors. Overall, Runtastic’s apps have garnered a massive 140 Million downloads with over 70 Million registered users at the time of acquisition.

This is a very special day for the entire Runtastic Community – myself included.

Today marks the day when Runtastic joins the adidas Group, connecting two unique and successful health & fitness leaders.

said Runtastic CEO and Co-Founder Florian.

Florian further added, that even though there’s an acquisition taking place, there isn’t gonna be much of a change for community members.

but as a business, we’ve now got a whole new world of possibilities to play around with…

he added.

Runtastic will remain its own entity (within the adidas Group) and continue to operate from its current offices in Linz, Austria, Vienna and San Francisco. The company will continue deliver further optimizations, unique content and a highly-anticipated new app by the end of the year.

FEATURED IMAGE : WIKIPEDIA

 

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.


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