Home / Business and Economy / Starman Optical Buys GoPro for $285 Million
Starman Optical Buys GoPro for $285 Million
1 Sep
Summary
- GoPro is acquired by Starman Optical for $285 million cash.
- Shareholders receive $1.14 per share, retaining 10% ownership.
- The deal repays GoPro's $92 million debt, leaving a debt-free entity.
GoPro, the renowned action camera manufacturer, is set to be acquired by Starman Optical in an all-cash transaction valued at $285 million. Announced on Tuesday, the deal stipulates that GoPro shareholders will collectively receive about $1.14 per share. They will also retain approximately 10% ownership in the newly combined company, marking a significant shift from its public offering in 2014.
The acquisition terms also include the full repayment of GoPro's approximately $92 million in outstanding debt upon the deal's closure. This will leave the merged entity with a substantially debt-free balance sheet. Starman Optical specializes in devices that convert computer data into high-speed light signals for fiber-optic cables, a technology in high demand for AI infrastructure.
GoPro had previously explored strategic options, including a potential sale or merger, after engaging consulting firm Oliver Wyman to identify growth opportunities beyond its core action-camera business. The company has affirmed its commitment to fully supporting its current consumer products, as well as its subscription and cloud platform services.
