Manufacturer of sports apparel and equipment for Adidas acquired the well-known developer of mobile fitness apps Runtastic. The value of the deal, according to Siliconrus, amounted to $240 million.
CEO of Adidas, Herbert Hainer, said that the acquisition Runtastic will help the company to provide customers with the sporting world-class experience” — because users are increasingly paying attention to devices and applications that help them to monitor the health, manufacturers of clothing and equipment began to look at popular mobile development. Nike is developing its own service Nike+ and company Under Armour in February this year acquired the developer of the app MyFitnessPal for $475 million
The company Runtastic was founded in Austria in 2009. At the moment its applications, of which there are about 20, used by about 70 million people. Also Runtastic launches wearable fitness trackers.
Runtastic will remain a solid team within the Adidas Group. As stated by the founder of the first, users should not notice changes after the transition of the company under early manufacturer of sports equipment. The largest shareholder Runtastic was a media company, Axel Springer, owner of 50.1% of its shares.
According to analysts, fitness apps are the fastest growing segment of the mobile market according to forecasts, the market for fitness apps could be $26 billion by 2017.