GoPro to be acquired for $285M, will remain a public company
Action camera company GoPro is being acquired by Starman Optical for $285 million in a deal that aims to clear the company's debt. The merger suggests a strategic pivot for GoPro toward defense technology and advanced optics, though the acquiring firm's track record remains largely unproven.
Why it matters
This acquisition marks a significant shift for a once-dominant consumer electronics brand as it attempts to survive by entering the defense and AI hardware sectors.
After years of financial struggles, action camera pioneer GoPro is being acquired for $285 million.
A company called “Starman Optical” has agreed to merge with GoPro. The deal involves Starman Optical paying GoPro shareholders $1.14 per share, and leaving those shareholders with about 10% of the newly combined company. The deal, expected to close by the end of this year, will wipe away GoPro’s outstanding debt of $92 million.
The merger, announced Tuesday morning, comes a few months after GoPro revealed it was considering pivoting from building cameras to becoming a defense tech company. A day or so ago, YouTuber Markiplier revealed he had amassed an 8.5% stake in GoPro.
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