August 5, 2015 21:21 clock

Runtastic Adidas jogging

Runtastic has a new majority shareholder | © Eliseo Fernandez / Reuters

The Austrian app provider Runtastic has a new majority shareholder. Adidas takes over both the shares of Axel Springer Verlag as well as the other private shareholders. This was confirmed both corporations

For Springer the sale is a profitable business. The Group acquired in October 2013, the shares of 50.1 percent at an enterprise value of EUR 22 million at that time. Today, the value is estimated according to company data on 220 million euros. The other sellers are a private investor and the company founders, are to remain in the company.

Runtastic develops and sells devices and apps that record and manage runners, cyclists and other athletes personal information such as pace, heart rate or calorie consumption can. The company sells apps in 18 languages ​​and claims to have a potential customer base of 70 million registered users.

With the acquisition Adidas follows the aspiring US rivals Under Armour, who had taken over two competitors of runtastic in February , Under Armour bought for $ 475 million to app programmers MyFitnessPal and paid another 85 million dollars for the seller Endomondo.