GoPro to merge with Starman Optical in $285M recapitalization deal

GoPro, Inc. (NASDAQ: GPRO) and privately held optical-photonics company Starman Optical, Inc. announced a definitive merger agreement, according to a press release dated Sept. 1, 2026.

Under the terms of the deal, GoPro shareholders will receive an aggregate cash payment of $285 million, or $1.14 per share, subject to adjustment based on net working capital at closing. Shareholders will retain approximately 10% of outstanding shares in the combined company. GoPro's outstanding debt of approximately $92 million will be repaid in full at closing.

GoPro will remain publicly listed on the Nasdaq following the transaction. The company said it will continue to support its existing consumer products and its subscription and cloud platform.

The merger is intended to add Starman's U.S.-manufactured optical transceiver business to GoPro's portfolio. The combined company plans to pursue opportunities in AI data center infrastructure, government, defense, and aerospace markets.

Charles Tebele, Chief Executive Officer of Starman Holding, said in the statement: "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."

Nicholas Woodman, Founder and CEO of GoPro, said the merger is expected to allow GoPro "to grow across consumer, commercial and defense markets as a leading American imaging and optical solutions company."

The transaction has been approved by the boards of both GoPro and Starman. Closing is expected by year-end 2026, subject to regulatory approvals, GoPro stockholder approval, and other customary conditions.

Houlihan Lokey, Inc. is serving as financial advisor to GoPro and has provided a fairness opinion. Fenwick & West LLP is acting as legal counsel to GoPro.

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