Adidas Group buys fitness apps and devices maker Runtastic from Axel Springer for €220 million


Runtastic, the Austrian startup behind a range of fitness applications, a Web portal and related hardware, has been acquired by Adidas Group for €220 million. That gives a healthy profit to German media company Axel Springer, which acquired a majority stake in the company back in October 2013.

Read: Running strong: How Runtastic became a leader in fitness apps and devices from humble beginnings

Runtastic was started in Pasching, Austria, in 2009 and has achieved more than 140 million downloads and about 70 million registered users since those early days. Its European rival, Endomondo, was acquired earlier this year, by Under Armour for $85 million.

More coverage can be found on The New York Times and Forbes.

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