Monday, August 10, 2015

Footwear Giant Adidas Acquires GPS Fitness Vendor Runtastic

Sports giant Adidas has acquired GPS fitness app vendor Runtastic in a $239 million deal that adds more digital fitness and health apps to the company's offerings. Adidas said that it will use the acquisition to expand its reach into sports science, wearables, sensor technology and health monitoring. The deal will also reinforce Adidas Group's strong commitment to bring data analytics to its customers.

Founded in 2009 and based in Pasching, Austria, Runtastic offers a combination of mobile sports apps, which sync directly with proprietary hardware to track distance, speed, pace, time, heart rate, calorie consumption and route traveled when running. The results can be viewed directly within the app via Runtastic GPS devices or on company's website (Runtastic.com). Available in 18 languages on iPhone, Android, Windows Phone and BlackBerry platforms, Runtastic's apps have reached more than 140 million downloads and 70 million registered users. 

Herbert Hainer, CEO Adidas Group, said in a statement: “This investment will add considerable value on our journey to deliver new world-class sports experiences", and also added that: "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." 

Adidas Group said in a statement that: "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”, and added that:  "Combining Runtastic's and the Adidas Group's capabilities brings the Adidas Group in a prime position to unleash its knowledge of sport." 

Runtastic Founders Florian Gschwandtner, Alfred Luger, Rene Giretzlehner and Christian Kaar will continue to run Runtastic with the Adidas Group. 

Image Credit: 9to5Mac

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