Adidas buys Runtastic to compete with Nike and Under Armour

Runtastic Adidas

Adidas has acquired all outstanding shares of fitness app Runtastic. The transaction values Runtastic at an enterprise value of €220 million. Adidas is trying to keep pace with other sports apparel brands who have similar services for athletes like Nike Fuelband and Under Armour (who bought MyFitnessPal and Endomondo). Runtastic will live as a separate entity within Adidas, and it doesn’t expect much to change on a day-to-day basis

The Runtastic app is a popular fitness-tracking software that monitors runs, jogs, bike rides, and walking. It uses GPS to map your workouts in real time. It will also calculate your time, distance, pace, elevation change, and calories. With more than 140 million downloads and around 70 million registered users, Runtastic has a strong and unique industry position. Available in 18 languages, Runtastic is already one of the most diverse global players in the health and fitness app market