Adidas and Runtastic Ink $240M acquisition deal
After negotiations between the two parties, the deal worth $240 million for Adidas Group to acquire Runtastic is now a go.
In a short entry on Runtastic’s blog, CEO and Co-Founder Florian Gschwandtner announced that his team is ecstatic to collaborate with their new partner. He feels that with their new trusted counterpart, Runtastic will achieve new heights in the health and fitness segment.
Despite the acquisition, Gschwandtner mentioned that Runtastic will maintain its own identity as a health and fitness software developer within the Adidas Group. He added that Runtastic will still operate from their offices in Linz, Austria, Vienna and San Francisco.
Gschwandtner promises that he and his team will come with fresh contents and a new app by the end of the year.