GoPro announces merger with optical-photonics company Starman Optical
Action camera manufacturer GoPro and Starman Optical, a privately held optical-photonics company, announced they have entered into a definitive merger agreement, with GoPro shareholders receiving a cash payment of $285 million, or $1.14 per share.
The privately held photonics company will acquire a 90% stake in GoPro to expand into AI data centers and defense. GoPro’s outstanding debt of approximately $92 million will be repaid in full at closing.
GoPro has become a household name over the past 24 years, as the company has developed innovative and market-defining technology and an associated IP portfolio of more than 2,500 U.S. patents. It also remains one of the most recognizable brands in powersports. Even today, the company’s cameras are a staple accessory in dealership parts departments, rider training programs, and OEM marketing content.
The camera manufacturer’s financial challenges have been building for several quarters. In the first quarter of 2026, revenue fell 26% year-over-year to $99 million, while camera sell-through declined 29%. The company reported an adjusted loss of 35 cents per share and negative EBITDA of $50 million. Retail channel revenue dropped 35% compared to the same period a year earlier.
In a joint press release, the companies said the merger is to maximize the value of GoPro’s IP and growth potential in consumer, commercial, and defense markets by recapitalizing the company, strengthening its balance sheet, investing in growth, and onshoring manufacturing for strategic markets.
GoPro will remain a publicly listed company and will continue to fully support its existing consumer products and its subscription and cloud platform. Starman’s U.S.-made optical transceivers are expected to be added to GoPro’s portfolio.
The merger was approved by both boards and the deal is expected to close by year-end 2026.
