Shareholders of the action camera maker will receive $1.14 per share, retaining a 10% stake in the newly formed public entity. The deal includes a full repayment of GoPro’s $92 million debt load, providing a clean slate for the firm’s new strategic direction. Trading of GoPro shares was halted Tuesday morning following a year of volatility that saw the stock price drop 38% since January.
In section Market Quotes
GoPro Pivots to Defense Tech in $285 Million Starman Optical Merger
GoPro is abandoning its purely consumer-focused identity, striking a $285 million cash deal to merge with Starman Optical. The agreement marks a sharp turn toward the artificial intelligence data center and defense sectors, as the struggling camera manufacturer seeks a path away from its declining stock performance.
The combined company aims to fuse GoPro’s massive portfolio of 2,500 patents with Starman’s domestic manufacturing capabilities. This partnership will focus on producing U.S.-made optical transceivers for high-growth strategic markets. While GoPro intends to maintain its existing consumer camera line, the primary growth engine will now shift toward commercial and defense-oriented hardware, prioritizing the onshoring of critical supply chains.
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