Adidas Buys Popular Austrian Fitness App Maker Runtastic

Posted: Aug 6 2015, 2:01am CDT | by , in News | Latest Business News

 

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Adidas buys Popular Austrian Fitness App Maker Runtastic

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Adidas Acquires Runtastic in a deal valued at $240 million.

Adidas announced that the company acquired the Austrian runtastic GmbH. The transaction values Runtastic at an enterprise value of € 220 million.

Founded in 2009 and headquartered in Pasching near Linz, Austria, Runtastic has more than 140 million downloads and around 70 million registered users.

“By bringing cutting-edge input from our leading position in the digital space to one of the great world leaders in the sports and fitness industry, I am personally looking forward to pleasing and surprising new and loyal users with the best products in the world. Together, we will make exceptional and unexpected things happen, ” says Florian Gschwandtner, Runtastic CEO and Co-Founder.

With 50.1% ownership, Axel Springer SE through its subsidiary Axel Springer Digital Ventures GmbH was the major shareholder of runtastic GmbH.

Other main shareholders were Austrian business angel Dr. Johann Hansmann and company founders Florian Gschwandtner, Alfred Luger, René Giretzlehner and Christian Kaar who will continue to run Runtastic within the adidas Group.

This is one of the few startup success stories from Austria.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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