Runtastic has been bought by Adidas, the fitness-app-making company's CEO Florian Gschwandtner announced in a blog post today. The deal reportedly values Runtastic at around $239 million dollars.
"We already have a lot of knowledge when it comes to apps and digital technology," Gschwandtner says, "and with Adidas Group as our trusted counterpart (and one of the most successful and most comprehensive sports companies in the world) there’s nothing we won’t be able to do when it comes to health and fitness offerings."
Runtastic has spent the last few years making a suite of fitness apps for all sorts of activities like running, mountain biking, push-ups, sit-ups, and tracking sleep. The company also started making hardware; there's a Runtastic GPS watch, a heart rate monitor, and last summer the company released a fitness tracker called Orbit.
Runtastic bolsters Adidas' existing line of fitness products
Adidas has its own line of fitness hardware called "micoach," which includes a number of fitness trackers and even a smart soccer ball, so it's unclear where Runtastic fits in next to these products. Runtastic "will remain its own entity" within Adidas, according to Gschwandtner's post. He also says that progress on a new app, which the company is supposed to deliver by the end of the year, won't be affected.