You might not have heard about Runtastic before, but Adidas has been closely following the activities of this Austria-based startup for quite some time. During that time, the sports giant fell in love with the startup’s output and has acquired it for $239 million.
The deal was announced by both Adidas and Runtastic on Wednesday. This no doubt is fantastic news for the Austrian company, but at least for now it all business as usual for Runtastic, operating as usual from their two locations, one in Austria, and the other in San Francisco.
In the past five years, Runtastic has been busy pumping out cross–platform applications, and as of now, they have around 20 applications that boast almost 120 million downloads combined. Their website, runtastic.com, has over 60 million registered users.
But applications and software aren’t the only interest of this firm. You can check out their online store and you won’t be surprised to see that they offer trackers, monitors, smartphone battery cases, and yes, even earphones.
The future is certainly exciting for Runtastic, and as Florian Gschwandtner, CEO of Runtastic and one of its co-founders describe this deal as “the next big step.”
With the huge rise of health focused apps, and related hardware, there is no doubt that Adidas will be happy to have them on side and able to help them penetrate a market now worth billions of dollar annually.