It’s also worth noting here that Runtastic had a majority shareholder in the form of Germany-based Axel Springer, one of Europe’s biggest media companies.
While Gschwandtner couldn’t confirm which other companies, or how many, were showing interest, he did state that it was “more than a handful” from around the world, with talks kicking off around four months ago. It seems this might’ve prompted Adidas and others into action, and Runtastic was an obvious target. The acquisition Gschwandtner is referring to is American sports clothing company Under Armour, which bought MyFitnessPal and Endomondo - two massive fitness platforms - for $560 million. “After the acquisition that happened earlier this year, with Under Armour and those other players, some companies came knocking on our door,” said Gschwandtner. It was its size that ultimately attracted the sports accessories behemoth, but Adidas wasn’t the only company sniffing around. Runtastic is a big company in its own right, one that often falls under the mainstream radar. While big-name American brands such as Runkeeper and Nike+ are perhaps better-known globally, Runtastic has notched up 140 million downloads around the world, and claims 70 million registered users. But what exactly sparked Adidas’s interest, and why sell now?
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