Yesterday, Adidas acquired Austrian fitness company Runtastic, becoming the latest purchase of the Adidas Group and the only brand in the Adidas Group that does not pertain to sports apparel or equipment. Adidas’ break into the fitness industry cost them around $240 million.
It appears that Adidas is attempting to answer the fitness app empire that Under Armour has recently amassed. In a matter of months, Under Armour’s Connected Fitness division has splashed $710 million on four separate mobile apps. Their newly minted collection of apps in this division is cast as the largest health and fitness network to date—and quite honestly, that advertisement is not far from reality.