GoPro has agreed to merge with Starman Optical in an all-stock deal that values the action-camera company at about US$285 million. The deal is expected to close by the end of 2026.

GoPro shareholders will receive stock implying a value of US$1.14 per share, a 25% premium to GoPro’s closing share price before reports of the transaction. They are expected to own about 10% of the combined company.

The deal is also expected to eliminate GoPro’s US$92 million in debt.

Starman Optical, a privately held subsidiary of Starman Holdings, focuses on AI data-center optical interconnects and advanced photonics.

After the deal closes, the combined company will operate as Starman Optical Holdings, with a seven-member board including six directors designated by Starman Holdings and one by GoPro.

The deal follows months of financial strain after GoPro said in June that it had substantial doubt about its ability to continue operating without additional capital.

In July, founder and CEO Nicholas Woodman agreed to invest US$20 million, and GoPro had earlier said it was exploring defense and aerospace opportunities.

🔗 Source: TechCrunch