Source: The Paper  3^rd Sep 2026

A low-profile optical components company is buying GoPro, once a shining star in the action camera market, for $285 million.

On September 1 local time, GoPro announced it will be acquired by U.S. optical communications company Starman Optical for $285 million in cash, a sum that will help GoPro pay off about $92 million in debt. After the deal closes, Starman will hold 90% of GoPro's shares, with existing shareholders retaining the remaining 10%. GoPro will not be delisted and will continue trading on Nasdaq.

Under the terms of the agreement, GoPro shareholders will receive a total of $285 million in cash, or $1.14 per share. Both companies' boards have approved the transaction, which is expected to close by the end of this year, subject to regulatory review and approval by GoPro shareholders.

In a joint statement, the two companies said the deal will better help GoPro, which depends on the consumer market, leverage its more than 2,500 U.S. patents—including in optics and imaging solutions—to expand into commercial, defense, and AI markets.

GoPro founder and CEO Nicholas Woodman said the merger will propel GoPro to become "a leading American imaging and optical solutions company."

Starman CEO Charles Tebele wrote in the statement that advanced optics and imaging technology are critical to AI, national security, and the broader economy, yet much of the key hardware underpinning these technologies is still manufactured overseas. Following the merger, the two companies will work to bring production of these critical components back to the United States.

On the news, GoPro (GRPO.O) shares jumped 40% that day to close at $1.23 per share, above the $1.14 acquisition offer, giving it a total market value of $227 million.

Public information shows that Starman Optical is a privately held manufacturer of optical transceiver modules, producing core optical components that convert between electrical signals and optical pulses. The company is part of New York-based Starman Holdings, a family-run diversified group with businesses spanning technology, consumer brands, and real estate development.

As the acquired party, GoPro was once synonymous with extreme sports and first-person perspective shooting, and its stock price trajectory reflects the company's rise and fall. In 2010, the company released the HD HERO action camera, supporting 1080p HD video and a 170-degree ultra-wide angle. With excellent video quality and viral user-generated content, it quickly broke into the mainstream.

The company went public in 2014, and its stock price climbed to a high of $98 per share in 2015. However, as smartphone camera capabilities continued to improve and Chinese manufacturers such as DJI and Insta360 rapidly captured market share through innovation and cost-effectiveness, its market share continued to shrink.

In 2018, GoPro's attempt to enter the drone market also ended in failure, causing significant losses. The company's stock price has fallen about 99% over the past decade.

GoPro's latest quarterly report released last month showed that its second-quarter revenue fell 31% year on year to $105 million, while its net loss widened 210% year on year to $51 million.

In May this year, GoPro's board announced it was evaluating a "range of strategic alternatives," including a sale to the defense industry. This merger agreement is the result of that exploration.