Wednesday, August 5, 2015

Adidas buys fitness app maker Runtastic

Adidas (ADSGn.DE) has bought Runtastic from Axel Springer (SPRGn.DE) and the company's founders in a deal valuing the mobile fitness app maker at 220 million euros ($239 million), it said on Wednesday.The acquisition of the Austrian company, with around 70 million registered users, will boost Adidas's appeal to fitness enthusiasts of all levels keen to measure their performance digitally and share their experiences, Adidas said. (Reporting by Georgina Prodhan; Editing by Edward Taylor)

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