The GoPro company, which makes durable action cameras that were also favored by woodworkers and for other workshop environments, announced their acqusition this week.
GoPro is being acquired by Starman Optical, which is owned by Starman Holding.
The new owner, Starman Holding, is “a diversified holding company with interests across technology, consumer brands, and optical photonics.”
In their announcement, GoPro said:
The merger intends 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 the manufacturing of products for strategic markets.
This comes after years of reports of severe financial problems and plunging stock value.
The company says they are now positioned “to expand into AI data center, government, defense, and aerospace markets.”
Although not directly related to the tool industry, I see parallels between what happened to GoPro and what is happening to a number of tool brands.
Acquisitions and closures are a regular part of business, but it seems we’re seeing a lot more of that these days.
At recent media events, DJI and Insta360 cameras were in nearly every creators’ hands. GoPro used to dominate the small action camera market. Their products and tech might still be good, but that’s moot if customers buy something else. I’m sure there are lessons here for tool brands.
NEW YORK and SAN MATEO, Calif., Sept. 1, 2026 /PRNewswire/ — GoPro, Inc. (NASDAQ: GPRO) and Starman Optical, Inc. (“Starman”), a privately held optical-photonics company, today announced that they have entered into a definitive merger agreement. In connection with the proposed transaction, GoPro shareholders will receive an aggregate cash payment of $285 million, or $1.14 per share, subject to potential adjustment based on GoPro’s net working capital at closing and will maintain ownership of approximately 10% of the outstanding shares of the Company. GoPro’s outstanding debt of approximately $92 million will be repaid in full at closing, resulting in a clean, substantially debt-free balance sheet.
Over the past 24 years, GoPro has developed industry-leading imaging solutions featuring innovative, advanced optics, market-defining technology and an associated IP portfolio of more than 2500 U.S. patents. The merger intends 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 the manufacturing of products 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 while investing in growth and a broader, diversified product roadmap. Starman’s U.S.-made optical transceivers are expected to be added to GoPro’s portfolio, extending the Company’s reach into the large and rapidly growing market for AI infrastructure in optical transceivers.
Following the transaction closing, the combined company also intends to leverage its IP, optics and imaging capabilities across defense, government, robotics and aerospace markets, building on demand for U.S.-made solutions.
“Advanced optics and imaging are essential to AI, national security, and the broader economy, yet much of the critical hardware supporting these technologies continues to be manufactured overseas,” said Charles Tebele, Chief Executive Officer of Starman Holding. “The combination of GoPro’s world-class optical expertise and intellectual property with Starman’s advanced transceiver capabilities and U.S. manufacturing platform creates a unique opportunity. Together, we intend to bring production of these critical components back to the United States.”
“We expect this merger to enable GoPro to grow across consumer, commercial and defense markets as a leading American imaging and optical solutions company, addressing important areas of national security related to cameras, optics and AI infrastructure. We’re excited to combine with the Starman team to capitalize on this opportunity and play an important role in America’s future,” said Nicholas Woodman, Founder and CEO of GoPro.
The transaction has been approved by GoPro’s Board of Directors and by the Board of Starman. It is expected to close by year-end 2026, subject to regulatory approvals and other customary closing conditions, including approval by GoPro’s stockholders.
