Sportswear brands "are adding one more must-have to their list of products: workout apps," according to Olga Kharif of BLOOMBERG. Unlike Nike, which has been developing its own running and sports apps for years, "rivals have taken to acquiring startups to stay relevant among gym rats." The latest is Asics Corp., the Japanese apparel maker that said it acquired Runkeeper last week for $85M. Under Armour kicked off the buyout frenzy in '13, when it spent $150M for MapMyFitness. Then in Feb. '15, Under Armour said it bought Endomondo for $85M and MyFitnessPal for $475M. Adidas snapped up Runtastic in August, giving the software company an "enterprise value" of $239M. Runkeeper co-Founder Jason Jacobs said that sports brands "recognize that apps can help them connect with their customers on their daily runs," not just when they walk into a store. Jacobs: "The fitness brands have been aspiring to have a relationship with the consumers early and establish an ongoing relationship with consumers." Endpoint Technologies Associates analyst Roger Kay said that the "shopping spree for fitness" likely is not over. There are "still plenty of apps out there without a brand allegiance." Kay: "There will be a lot of consolidation" (BLOOMBERG, 2/18).
