GoPro to merge with Starman Optical in $285 million deal

# GoPro Bets on AI and Defense With $285 Million Starman Optical Merger

GoPro is preparing for one of the biggest strategic transformations in its history, agreeing to merge with privately held optical-photonics company Starman Optical in a deal valued at approximately $285 million.

The transaction will allow GoPro to remain a publicly traded company while expanding its business far beyond the action-camera market that built its global brand.

Under the agreement announced September 1, GoPro shareholders will receive $1.14 in cash for each share they own.

Existing GoPro shareholders are expected to retain approximately 10% of the combined company following the transaction.

GoPro’s roughly $92 million in outstanding debt will also be repaid when the merger is completed.

The companies expect the transaction to close by the end of 2026, provided it receives the required regulatory and shareholder approvals.

The merger marks a dramatic change for GoPro, which became widely known for small, rugged cameras used by athletes, travelers and outdoor enthusiasts.

Rather than abandoning that business, GoPro said it intends to continue supporting its consumer cameras, subscription products and cloud services after the deal closes.

At the same time, the company plans to enter larger commercial markets, including government, defense, robotics and aerospace.

The strategy will combine GoPro’s imaging technology and intellectual property with Starman Optical’s expertise in optical-photonics and optical-transceiver systems.

Starman specializes in optical transceivers that can be used in data-center infrastructure, giving GoPro exposure to a rapidly expanding technology market driven by artificial intelligence.

The combination comes as demand rises for high-speed infrastructure capable of supporting increasingly powerful AI systems.

The companies also plan to expand U.S. manufacturing of optical products.

That move could position the combined company to benefit from efforts to strengthen domestic production of strategically important technology components and reduce dependence on overseas supply chains.

Starman Holding CEO Charles Tebele said advanced optics and imaging have become increasingly important to AI, national security and the broader economy.

The merger, according to the companies, could combine GoPro’s imaging patents with Starman’s optical-transceiver technology and U.S. manufacturing capabilities.

The deal also arrives at a difficult financial period for GoPro.

The company warned investors in June that it could face challenges remaining a going concern without additional financing.

Founder and CEO Nick Woodman subsequently invested $20 million into the company.

GoPro has spent years attempting to diversify beyond its original action-camera business.

Its expansion efforts have included drones and 360-degree cameras, although the company eventually narrowed its strategy while cutting expenses and reducing its workforce.

The proposed Starman transaction now offers a different route for diversification.

Instead of moving further into consumer electronics alone, GoPro would gain exposure to AI infrastructure and advanced optical technology.

Investor attention surrounding GoPro also increased after YouTuber Markiplier, whose real name is Mark Fischbach, disclosed an 8.5% stake in the company.

GoPro shares jumped following the disclosure and climbed again after news of the proposed merger emerged.

GoPro said its intellectual-property portfolio includes more than 2,500 U.S. patents covering imaging and optical technologies.

The company believes those assets can be applied across consumer products as well as commercial and national-security markets.

For GoPro, the transaction represents an attempt to address years of financial pressure while preserving its public-market status.

If completed, the merger would transform GoPro from a company primarily associated with action cameras into a broader technology business spanning imaging, optical systems, AI infrastructure and defense-related applications.