Adidas Group buys fitness apps and devices maker Runtastic from Axel Springer for €220M
Share on Facebook
Share on Twitter
Share on Google+
Share on Reddit
Share on Email

Photo Credit: Runtastic

Runtastic was started in Pasching, Austria in 2009 and has achieved more than 140 million downloads and about 70 million registered users

Tech.eu

Runtastic, the Austrian startup behind a range of fitness applications, a Web portal and related hardware, has been acquired by Adidas Group for €220 million. That gives a healthy profit to German media company Axel Springer, which acquired a majority stake in the company back in October 2013.

Runtastic was started in Pasching, Austria in 2009 and has achieved more than 140 million downloads and about 70 million registered users since those early days. Its European rival, Endomondo, was acquired earlier this year by Under Armour for $85 million.

Beyond its GPS fitness tracking app, which is available on iOS, Android, Windows, and Blackberry platforms, the company has also started venturing into virtual reality with a similar app for the Oculus Rift.

More coverage can be found on The New York Times and Forbes.

This post was originally published on Tech.eu

Laura Rosbrow contributed reporting. 

Featured Image Credit: Runtastic

Share on:Share
Share on Facebook
Share on Twitter
Share on Google+
Share on Reddit
Share on Email
Robin Wauters

About Robin Wauters


Co-founder and editor-in-chief of Tech.eu, with previous stints at The Next Web and TechCrunch under his belt. Deeply in love with his family, technology, traveling and Belgian beer.

More Goodies From M&A


WalkMe acquires visual analytics startup Jaco for more insightful understanding of user behavior

A $15 billion Israeli exit: How did it happen, and why Mobileye?

Mobileye’s Intel deal — the elephant in the room that Israeli VCs are ignoring