💰 Struggling GoPro Sells Majority Stake to Optical Maker
Published by OOPSONLINE.IN · Source: The Economic Times · 1 min read · · Updated
What actually happened
Starman Optical will acquire struggling GoPro for $285 million in cash. This deal aims to repay GoPro's debt and navigate market challenges. The acquisition will integrate Starman's optical transceivers into GoPro's product line. GoPro's consumer business will continue while tapping new markets. The transaction is expected to be finalized by the year's end.
Key points
- Starman Optical will acquire struggling GoPro for $285 million in cash.
- This deal aims to repay GoPro's debt and navigate market challenges.
- The acquisition will integrate Starman's optical transceivers into GoPro's product line.
- GoPro's consumer business will continue while tapping new markets.
Summary based on data provided by The Economic Times. Full article available at the original publisher.
- #business
- #struggling
- #gopro