Australian fitness app company that sports apparel giant Adidas has purchased it for $240 million.聽
Runtastic, founded in 2009, has about 70 million registered users and more than 20 fitness, health, and endurance apps,聽as well as fitness tracking devices, .
The German company鈥檚 purchase of Runtastic comes on the heels of other sportswear brands expanding into digital fitness. Under Armour, which surpassed Adidas last year to become the second-largest sports brand in the United States, recently invested $710 million into its Connected Fitness platform that includes MapMyFitness, Endomondo, and MyFitnessPal.
鈥淒igital technologies are providing new capabilities and insights to help athletes of all levels take control of their sporting destiny鈥攚hether improving their performance, sharing their experiences, or creating their own great social moments of sport,鈥 Herbert Hainer, CEO of Adidas, said in .