GoPro is to be acquired by Starman Optical in a deal valuing the action-camera company at $285 million, while its shareholders will retain about 10% of the combined business.
Under the terms announced on Tuesday, Starman will pay GoPro investors $1.14 (£0.85) per share. The transaction is expected to complete by the end of the year and will eliminate GoPro’s outstanding debt of $92 million.
GoPro will remain a publicly traded company following the merger, which comes after years of financial pressure and repeated efforts to broaden its business beyond action cameras.
GoPro targets consumer, commercial and defence markets
The company said the deal would strengthen its balance sheet, support investment and help expand its products across consumer, commercial and defence markets. It also plans to bring manufacturing of products for strategic markets to the United States.
GoPro said it would continue to support its existing consumer products while developing a wider and more diversified product range. The company has not yet provided detailed information about what that roadmap will include.
The merger follows GoPro’s disclosure several months ago that it was considering shifting towards defence technology. The company has also faced renewed attention after YouTuber Markiplier revealed he had built an 8.5% stake in the business.
Starman Optical describes itself as an optical-photonics company developing and manufacturing optical transceivers and related technologies through its Starman New Photonics division.
Both businesses form part of Starman Holdings, which owns consumer technology brands including Incase, Incipio and Griffin. Starman Optical was incorporated in Delaware on August 31, while Starman New Photonics appears to have been established in 2025 and is developing a manufacturing facility in New Jersey.
Charles Tebele, chief executive of Starman Holdings, said advanced optics and imaging were important to artificial intelligence, national security and the wider economy, but that much of the necessary hardware was still made overseas.
“The combination of GoPro’s world-class optical expertise and intellectual property with Starman’s advanced transceiver capabilities and U.S. manufacturing platform creates a unique opportunity,” he said. “Together, we intend to bring production of these critical components back to the United States.”
GoPro floated on the stock market in 2014, when its cameras were selling millions of units a year. Attempts to expand into products including drones and 360-degree cameras failed to deliver a lasting breakthrough, and the company subsequently concentrated on higher-performance cameras aimed at professionals, enthusiasts and athletes.
That retrenchment was accompanied by several rounds of redundancies. In June, GoPro warned shareholders that it could run out of money without additional funding, before founder and chief executive Nick Woodman committed $20 million to keep the business operating the following month.
“We expect this merger to enable GoPro to grow across consumer, commercial and defence markets as a leading American imaging and optical solutions company,” Woodman said. “We’re excited to combine with the Starman team to capitalise on this opportunity and play an important role in America’s future.”
