Mobile fitness company Runtastic has been purchased by Adidas in a deal which is worth $239 million.
Runtastic started in Austria in 2009 and its fitness tracking devices have become popular as has it mobile tracking app.
The company’s mobile app has more than 70 million users and their app has been downloaded more than 140 million times.
Runtastic will continue to keep its offices in San Francisco and Austria and the company will continue to develop the application, apparently there are some major new features on the way.
“There are so many more ideas, products, and optimizations we’re working on, and we don’t plan on stopping anytime soon,” said Florian Gschwandtner, Runtastic CEO and cofounder. “Yes, we promise to keep you guessing and on the edge of your seats!”
“Both companies firmly believe that together we can build a unique product portfolio and unparalleled customer journey for our existing community members and future users,” he added.
Source Venture BeatFiled Under: Technology News