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In a nutshell: Iconic action-camera maker GoPro has agreed to a $285 million cash merger with optical-photonics company Starman Optical. Headquartered in Warren, New Jersey, Starman is a privately held technology startup founded in 2024 that manufactures high-speed optical transceivers for AI data centers.
As part of the proposed acquisition, GoPro shareholders will receive $285 million in cash, or $1.14 per share, while retaining approximately a 10% stake in the combined company. The merged entity will remain publicly listed on heNasdaq. The $1.14-per-share offer represents nearly double the $0.60 at which GoPro's stock was trading the day before the announcement.
Starman has also agreed to fully repay GoPro's outstanding debt of $92 million at closing, wiping out most of its debt and leaving the company with a largely debt-free balance sheet. The transaction, which will allow GoPro to continue operating as an independent company, is expected to close by the end of this year, subject to regulatory approvals.
