Adidas acquires fit app Runtastic

Adidas has purchased fitness tracking app maker Runtastic, giving the brand access to 70 million active users.

The acquisition, worth $239 million, is from majority owner Axel Springe, along with the company's founders and an investor, Re/code reported. Runtastic offers more than 20 apps covering a variety of endurance, health and fitness activities in 18 languages.

Nike (NYSE:NKE) was the first athletic brand to partner on fitness tracking, teaming up with Apple to create the Nike+ running program for the iPod and iPhone in 2012.

In an effort to gain share of the retail market from Nike, Adidas launched its own miCoach device just last year. However, Nike still has a loyal group of customers and brand popularity among millennials, as it continually ranks No. 1 among consumers ages 18 to 34.

Last year, Under Armour (NYSE:UA) became the second-largest sportswear maker in the United States, knocking Adidas out of the No. 2 spot.

Earlier this year, Under Armour bought diet and exercise app MyFitnessPal for $475 and Endomondo, a social fitness network, for $85 million. In 2013, the brand acquired MapMyFitness, a maker of fitness apps, for $150 million. Combined, the brand has 120 million users on its Connected Fitness platform.

For more:
-See this Re/code article

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