GoPro announced a merger with Starman Optical to enter the AI data center and defense markets, sending its stock soaring 38%.
GoPro announced on Tuesday a definitive merger agreement with Starman Optical, a privately held photonics company, expanding its business into AI data centers and the defense market. Following the announcement, GoPro's stock surged 38%. Under the agreement, GoPro shareholders will receive a cash payment of $285 million, or $1.14 per share, and the company's stock will continue to be listed on Nasdaq. Nicholas Woodman, GoPro's CEO, stated that the merger will enable GoPro to grow as a leading U.S. imaging and optical solutions company across consumer, commercial, and defense markets, addressing national security critical areas related to cameras, optics, and AI infrastructure. Prominent YouTuber Markiplier holds an 8.5% stake in GoPro, and BlackRock has disclosed a 6.4% stake.
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