Action-camera maker GoPro is set to be acquired by privately held Starman Optical in a $285 million all-cash deal, marking a major shift for a company that built its name around consumer cameras.
Under the agreement announced on September 1, GoPro shareholders will receive about $1.14 per share in cash while retaining roughly 10% ownership of the combined company. Starman will hold the remaining 90%.
GoPro Faces Financial Pressure
The deal comes as GoPro continues to deal with declining revenue and losses. In the second quarter of 2026, GoPro reported revenue of $104.9 million, down 31% from a year earlier, and a GAAP net loss of approximately $51 million.
GoPro’s annual performance has also weakened. Revenue fell to $651.5 million in 2025, compared with $801.5 million in 2024.
The transaction is also expected to address GoPro’s debt. The company said its approximately $92 million outstanding debt will be repaid in full at closing, leaving the combined company with a substantially debt-free balance sheet.
Starman To Take 90% Stake
Starman Optical is a privately held optical-photonics company that manufactures optical transceivers in the United States. These components convert computer data into light signals for high-speed transmission through fibre-optic networks and are used in AI data-centre infrastructure.
Under the proposed merger, Starman will acquire a 90% stake in GoPro, while existing GoPro shareholders will retain approximately 10%. GoPro will continue to be publicly listed on Nasdaq following the transaction.
The companies said Starman’s U.S.-made optical transceivers are expected to be added to GoPro’s product portfolio as part of the broader expansion into AI infrastructure.
GoPro Keeps Consumer Business
The merger does not mean GoPro is abandoning its existing camera business. The company said it will continue supporting its consumer products, subscription services and cloud platform while pursuing a broader product roadmap.
The combined company also intends to use GoPro’s optics and imaging capabilities across commercial, defence, government, robotics and aerospace markets. GoPro said its intellectual-property portfolio includes more than 2,500 U.S. patents, including technologies related to optics and imaging.
The expansion gives the combined business a presence beyond GoPro’s traditional consumer market, although the company has described these areas as markets it intends to pursue rather than established sources of revenue.
Deal Expected By Year-End
The merger has been approved by the boards of both GoPro and Starman. It remains subject to regulatory approvals, GoPro shareholder approval and other customary closing conditions, with completion expected by the end of 2026.
GoPro had previously said it was reviewing strategic options, including a potential sale or merger, after bringing in consulting firm Oliver Wyman to explore opportunities beyond its core action-camera business.
The proposed transaction therefore gives GoPro a new ownership structure while keeping the company publicly traded and its consumer business operational. For Starman, the deal provides access to GoPro’s imaging and optics technology and creates a platform to expand its optical-transceiver business into AI infrastructure and other strategic markets.
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