I just received confirmation that GoPro has entered into a definitive merger agreement with Starman Optical which is a privately owned company that makes optical transceivers. It also owns Incase, Incipio and Griffin.
Starman gets a 90% stake with GoPro shareholders keeping the rest and receiving an aggregate cash payment of $1.14 a share. It also means GoPro’s $92 million debt will be wiped out.
The deal does require regulatory approval, and everything is expected to be finalised by year’s end.
GoPro says it will continue to support its existing consumer products, subscriptions and cloud platform.
When GoPro first floated it was valued at $4 billion so has lost around 96% of its valuation apparently mainly due to competition from DJI and Insta360.
By the way, if you are a GoPro owner and want some tutorials on such things as how to better edit your footage, get the best audio or just learn the basics of videography like aperture, depth of field, ISO, slo-mo and so on, I have a whole bunch of tutorials on my CCTV YouTube channel.