Axel Springer SE is selling its majority stake (50.1%) along with the Runtastic founders and co-shareholders.
The enterprise value for the overall acquisition, which aims to reinforce the Adidas Group’s commitment to bring data analytics to the athlete,was €220m.
Founded in 2009, Runtastic offers a combination of mobile sports apps (e. g. for running and cycling), which sync directly with proprietary hardware to track distance, speed, pace, time, heart rate, calorie consumption and route traveled (via maps) when running, biking or engaging in other exercise activities.
The results can then be viewed directly within the app, via Runtastic GPS devices or on Runtastic.com where users can view their online training log, get detailed data analysis and compare with others.
Available in 18 languages on iPhone, Android, Windows Phone and BlackBerry, the apps have reached over 140 million downloads and approximately 70 million registered users.
In October 2013, Axel Springer acquired the 50.1% shares in Runtastic via Axel Springer Digital Ventures at an enterprise value of €22m.
Following the close of the deal, company founders Florian Gschwandtner, Alfred Luger, René Giretzlehner and Christian Kaar will continue to run Runtastic within the adidas Group.