GoPro announces merger plan with Starman Optical Inc.

Gary Pageau ,

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After announcing plans to seek a buyer, GoPro Inc. announced plans to merge with Starman Optical Inc., a privately held optical-photonics company. 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. 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. Despite that ominous sounding statement, GoPro CEO and founder Nick Woodman said the company will continue “to bring you more innovative cameras, smarter accessories, and more powerful software and services designed to make capturing, editing and sharing your experiences easier and more exciting than ever.”
GoPro said it 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.

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 2,500 U.S. patents.

“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, CEO 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 Woodman.

The transaction is expected to close by year-end 2026, subject to regulatory approvals and other customary closing conditions, including approval by GoPro’s stockholders.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.