Adidas has acquired Austria-based Runtastic, a maker of fitness apps and devices, at a valuation of €220 million. With Runtastic, which has 70 million registered users of its hardware and software products across the globe, Adidas will be better positioned to compete with rivals like Nike, which has been selling its activity tracker FuelBand since 2012.
The adidas Group and runtastic GmbH today announced that adidas AG has acquired all outstanding shares of runtastic GmbH. The transaction values Runtastic at an enterprise value of € 220 million.
In line with the Group’s strategic business plan ‘Creating the New’, this acquisition reinforces the adidas Group’s commitment to inspire and enable athletes of all levels to harness the power of sport in their lives. Runtastic’s vision for 2020 that every individual lives a more aware and active lifestyle leading to a longer, happier life means the 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 adidas brand was the first in the industry to comprehensively bring data analytics to the athlete. With decades of continuous investment in sports science, sensor technology, wearables and digital communication platforms, there is no other sports company that has done more to innovate sports and change the game through technology.
adidas’ variety of digitally enabled products such as balls, wrist devices, apparel, shoes, web and phone apps goes unmatched. No other sports company has the diversity of sports and fitness activity coverage and understanding of data related to athletes’ physiology and motion in play – from pro athletes, world record holders, professional sports and college teams to athletes of all levels right down to kids in gym class.
