GoPro to merge with Starman Optical in $285m deal pivoting to defence tech

Action camera pioneer GoPro has agreed to merge with Starman Optical in a deal valued at $285 million. The transaction will leave GoPro as a public company, with existing shareholders receiving $1.14 per share and retaining approximately 10 per cent of the combined entity. Expected to close by the end of the year, the merger will also eliminate GoPro’s outstanding debt of $92 million.

This rescue package marks a dramatic pivot for a company that once dominated the consumer action camera market after its 2014 initial public offering. Following a decade of struggling to replicate its early success with drones and 360-degree cameras, GoPro recently warned shareholders it might face insolvency without fresh capital. Founder and chief executive Nick Woodman subsequently injected $20 million of his own funds in July to keep operations afloat.

The acquiring entity, Starman Optical, was incorporated in Delaware on 31 August. It operates alongside Starman New Photonics, a business created in 2025 that is currently constructing a manufacturing facility in New Jersey. Both are part of Starman Holding, a parent company that owns consumer tech accessory brands such as Incase, Incipio and Griffin.

Rather than sustaining GoPro purely as a consumer brand, the merger is designed to reposition the company’s intellectual property toward defence and commercial applications. GoPro stated the deal will “maximize the value of GoPro’s IP and growth potential” by recapitalising the business and onshoring the manufacturing of products for strategic markets. The company added it will fully support its existing consumer products while pursuing a diversified product roadmap.

Charles Tebele, chief executive of Starman Holdings, framed the acquisition as a move to secure critical supply chains. He stated: “Advanced optics and imaging are essential to AI, national security, and the broader economy, yet much of the critical hardware supporting these technologies continues to be manufactured overseas.” Tebele added that the merger creates a unique opportunity to bring production of these components back to the United States.

The announcement follows recent unusual activity in GoPro’s shareholder registry, including the revelation that prominent YouTuber Markiplier recently amassed an 8.5 per cent stake in the company. It remains to be seen how this new ownership structure will influence the brand’s direction alongside its new corporate parent.

Woodman expressed optimism that the merged entity would emerge as a leading American imaging and optical solutions company. He stated the combination will allow GoPro to play “an important role in America’s future” by addressing national security needs related to cameras, optics and AI infrastructure.