Adidas Buys GPS Fitness App Vendor Runtastic
The sports and footwear company is buying Runtastic to expand the digital connections of its many products with more health and fitness apps.Adidas has acquired GPS fitness app vendor Runtastic in a $239 million deal that adds more digital fitness and health app tools to the sports equipment and footwear company's product arsenal. Adidas will use the acquisition, which was announced Aug. 5, to expand its reach into sports science, wearables, sensor technology, and health and fitness monitoring so it can provide more capabilities for its customers. Adidas Group "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," the company said in a statement. "Combining Runtastic's and the Adidas Group's capabilities brings the Adidas Group in a prime position to unleash its knowledge of sport." Runtastic, which was founded in 2009, is based in Pasching, Austria, and has seen more than 140 million downloads of its more than 20 sports, endurance and fitness apps, according to Adidas. The apps, which are being used by some 70 million registered users, are available in 18 languages.
"This investment will add considerable value on our journey to deliver new world-class sports experiences," Herbert Hainer, CEO of Adidas Group, said in a statement. "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. Adidas is the perfect strategic partner for Runtastic and we are very eager to leverage our business in new and unique ways in the future."