GoPro to be acquired for $285M, will remain a public company
GoPro is merging with a company that builds AI infrastructure, and will continue supporting existing consumer products.
TL;DR
- GoPro is being acquired by Starman Optical for $285 million.
- Shareholders will receive $1.14 per share and retain 10% of the combined company.
- The deal will eliminate GoPro's $92 million in debt.
- The merger aims to maximize GoPro's IP and growth in consumer, commercial, and defense markets, including AI and national security.
- GoPro will continue to support existing consumer products while investing in a diversified product roadmap.
- Starman Optical is an optical-photonics company focused on domestic manufacturing of optical transceivers.
- Starman Holding owns consumer tech brands like Incase, Incipio, and Griffin.
- Starman Optical was recently incorporated, while Starman New Photonics is building a facility in New Jersey.
- The combined entity intends to bring production of critical components back to the United States.
- GoPro previously warned of potential business failure without new funding and received investment from its founder.