GoPro to Merge With Starman Optical in $285 Million Deal

GoPro has entered a definitive agreement to merge with Starman Optical, a privately held U.S.-based optical-photonics company and subsidiary of Starman Holding. The transaction values the deal at $285 million in cash and is expected to close before the end of the year, according to the companies’ announcement.

Under the structure disclosed in an SEC filing, Action Acquisitions LLC will become GoPro’s parent company. Starman says GoPro shareholders will retain 10 percent of the combined company’s shares.

GoPro founder and CEO Nick Woodman described the company as an imaging and optical solutions business that will address areas related to national security, cameras, optics and AI infrastructure. Starman Holding CEO Charles Tebele said the companies plan to combine GoPro’s optical expertise and intellectual property with Starman Optical’s transceiver capabilities and U.S. manufacturing platform.

GoPro said it will continue to support its existing consumer products, subscription and cloud services, while expanding its roadmap into consumer, commercial and defense markets. GoPro had already announced plans to begin defense and aerospace consulting in April.

The company reported $92 million in debt during its financial difficulties. YouTuber Mark “Markiplier” Fischbach purchased an 8.5 percent stake and became GoPro’s largest shareholder. The company said day-to-day operations and support for existing products will continue as usual until the deal closes.