GoPro to Be Acquired for $285 Million in Deal to Expand Imaging and Defence Focus

GoPro has agreed to be acquired by Starman Optical in a $285 million deal that will keep the action camera company public while creating a broader technology business focused on imaging, commercial applications and defence markets.

Under the agreement, Starman Optical will pay GoPro shareholders $1.14 per share, with existing shareholders expected to retain approximately 10% ownership of the newly combined company. The transaction is also expected to remove GoPro’s outstanding debt of about $92 million.

The merger comes after years of financial pressure for GoPro, which has worked to reshape its business following declining demand growth and unsuccessful attempts to expand into new categories. Earlier this year, the company warned investors about its financial position before founder and CEO Nicholas Woodman provided additional funding to support operations.

GoPro later announced financing from Woodman as part of its efforts to strengthen the company and explore new opportunities.

GoPro expands focus beyond action cameras.

GoPro said the merger is designed to maximise the value of its intellectual property and create opportunities across consumer, commercial and defence markets. The company said it will continue supporting existing consumer products while investing in a broader product roadmap.

The deal follows GoPro’s earlier consideration of shifting toward defence technology. Over the years, the company attempted to enter additional markets, including drones and 360-degree cameras, before returning its focus to high-performance action cameras for professional users, athletes and enthusiasts.

GoPro became a public company in 2014 during a period of rapid growth for its action camera business. The company’s initial public offering was priced at $24 per share, but it later faced challenges that led to restructuring and multiple rounds of layoffs.

Earlier financial concerns included a warning about the company’s ability to continue operating without additional funding. GoPro disclosed concerns about its financial condition as it evaluated ways to stabilise the business.

Starman Optical brings photonics and manufacturing plans

Starman Optical describes itself as an optical-photonics company focused on developing and manufacturing optical transceivers and related technologies through its Starman New Photonics business.

Both Starman Optical and Starman New Photonics are part of Starman Holding, which owns consumer technology brands including Incase, Incipio and Griffin. The company has also been developing U.S.-based manufacturing capabilities for advanced optical technologies.

Starman New Photonics is building manufacturing operations in New Jersey, including a facility connected to state efforts supporting advanced manufacturing projects. The New Jersey Economic Development Authority has highlighted manufacturing investments through its state programs.

Starman Holdings CEO Charles Tebele said the combination of GoPro’s imaging expertise and intellectual property with Starman’s optical technology and manufacturing capabilities could help increase domestic production of important hardware components.

New ownership plans for GoPro’s future

The acquisition follows a period of renewed attention around GoPro, including investment activity from outside shareholders. YouTube creator Markiplier recently disclosed an 8.5% stake in GoPro, becoming one of the company’s notable investors.

GoPro said the merger will allow the company to strengthen its balance sheet, invest in growth, and expand its role in imaging technologies across consumer products, commercial uses, and defence applications.

The transaction is expected to close by the end of the year, after which GoPro will continue operating as part of the combined public company.