Runtastic was started in Pasching, Austria in 2009 and has achieved more than 140 million downloads and about 70 million registered users
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.
This post was originally published on Tech.eu.
Laura Rosbrow contributed reporting.
Featured Image Credit: Runtastic