Action camera pioneer GoPro has agreed to merge with private optoelectronics firm Starman in a cash and stock deal. The agreement delivers $285 million in cash to shareholders and clears all company debt while expanding into hardware for artificial intelligence data centers and defense. The transaction is scheduled to close before the end of the year pending regulatory and shareholder approval.
GoPro was facing heavy financial pressure before accepting the buyout offer. Recent quarters saw camera sales drop by 38% while total cash reserves dwindled to $27 million. Under the terms of the merger agreement, GoPro shareholders will receive $1.14 per share in cash and retain a 10% equity stake in the combined business. The deal also wipes out $92 million in existing debt at closing to give the company a clean balance sheet.
According to the official corporate announcement, GoPro plans to apply its 24 years of optical engineering and catalog of over 2500 patents to target new commercial industries. The merged company will remain publicly traded and keep supporting its standard consumer cameras, cloud storage, and subscription apps. However, future growth will focus heavily on bringing manufacturing back to the United States.
A major focus of the merger involves adding Starman optical transceivers to the product lineup. These components are designed for high speed AI infrastructure, giving the business an entry into the rapid buildout of modern data centers. Management also plans to adapt its imaging sensors for government contracts, robotics platforms, and aerospace applications.
Both boards of directors have approved the transaction. Final closing remains subject to standard regulatory reviews and the approval of GoPro shareholders. If completed as planned, the deal will reposition the camera maker into a diversified hardware supplier for enterprise computing and national defense.
