GoPro Acquired by Starman Optical for $285 Million

GoPro, a longtime struggling action camera manufacturer, has announced a merger with Starman Optical in a $285 million deal. Under the agreement, GoPro shareholders will receive $1.14 per share and retain about 10% in the new combined entity. The transaction will eliminate GoPro’s $92 million debt and strengthen its financial position. The merger is expected to be completed by the end of 2024.

Starman Optical, recently incorporated in Delaware, positions itself as a developer of optical and photonics technologies, including optical transceivers. The company is part of Starman Holdings, which owns consumer electronics brands such as Incase, Incipio, and Griffin. Starman Optical emphasizes that the merger with GoPro will enable the return of critical optical component production to the U.S., particularly vital for AI and national security sectors.

GoPro founder and CEO Nick Woodman stated that the merger will unlock new growth opportunities in consumer, commercial, and defense markets. GoPro will continue supporting existing products while investing in expanding its product lineup and relocating manufacturing to the U.S. Earlier, the company explored a pivot toward defense technologies and received significant investments from blogger Mark Rober, who acquired an 8.5% stake in GoPro.