Starman Optical to acquire 90% of GoPro for $285 million

Starman Optical has entered into a definitive merger agreement to acquire 90% of GoPro for $285 million. Under the terms of the deal, GoPro shareholders will receive $1.14 per share in cash, while retaining approximately 10% ownership of the company. The transaction also includes the full repayment of GoPro’s approximately $92 million in outstanding debt.

The acquisition comes as GoPro faces significant financial challenges. Recent reports indicate a 31% drop in revenue and a 38% decline in unit sales compared to the previous year. The company has also seen widening net losses and a decrease in cash reserves. In regulatory filings, GoPro noted substantial doubt regarding its ability to continue as a going concern over the next twelve months.

Starman Optical, a private U.S. photonics company owned by Starman Holding, specializes in the manufacture of optical transceivers. The merger is expected to expand operations into sectors such as defense, robotics, aerospace, and government contracts. GoPro is expected to remain listed on the Nasdaq and will continue to support its existing consumer products and cloud subscription platforms. The deal is subject to shareholder approval and regulatory authorizations, with closing expected by the end of 2026.