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Adidas acquires running app maker Runtastic for $240 million

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Running and fitness app Runtastic has been acquired for $240 million by Adidas, the company announced in a blog post. The app will retain its entity within the Adidas Group and continue to operate from Linz (headquarters), Vienna and San Francisco. The company said that it is planning to add optimisations, content and a new app by the end of the year.

Runtastic currently has 18 apps across Android, iOS, Windows Phone and Blackberry platforms, some of which are paid. It seems that the company is hiring across engineering, design and marketing despite its acquisition or hasn’t yet updated its career page.

Adidas, in its press release, said that Runtastic had already established revenue and earnings streams, with a ‘robust momentum’ in the coming years. Axel Springer owned 50.1% in Runtastic GmbH. Other major shareholders included Dr Johann Hansmann and Runtastic’s founders Florian Gschwandtner, Alfred Luger, René Giretzlehner and Christian Kaar.

Runtastic on Google Now

In April, Google started displaying info on Google Now cards from apps like RunKeeper, Runtastic, Jawbone, Feedly and 67 other apps. After google started adding third party Android apps to Google Now cards in January, it has expanded the number of apps, which now totals to 110. The goal of the cards, including Google’s own, was to display time sensitive relevant information.

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Google Fit’s Adidas and Runtastic partnership

In June last year, Google roped in fitness brands like Adidas which would be opening up data from its smart sensors to developers on Google Fit platform. Other partners included Intel’s Basis, Runtastic, Runkeeper, Withings, Asus, HTC, LG, Motorola and Polar.

Runtastic uses GPS to map and track running, jogging, biking, walking and hiking among others. It tracks features like duration, distance, elevation change, calories burned, a personal workout diary, stats and graphs, live tracking and cheering and routes. Interestingly, the app also lets its users play music from Google Play Music, Spotify, Pandora and SoundCloud from within the app. Other than this, it also syncs with the user’s Google Fit activities and integrates with Android Wear.

Runtastic was founded by Florian Gschwandtner (CEO), Alfred Luger (COO), Christian Kaar (CTO), René Giretzlehner (Systems Integration Architect) in 2009 and has 125 employees from over 25 countries. It claims to have had 135 million app downloads and over 65 million registered users and is available in 18 languages. Runtastic competes with other fitness apps like Runkeeper, Google Fit, Nike+ Running, Noom Walk, CouchTo5k, Jogger etc.

Image Credit: Flickr user William Murphy

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