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Industry
GoPro to expand into AI and defense via $285 million deal with Starman Optical
GoPro said it signed a final merger agreement with privately held photonics company Starman Optical to expand into AI data centres and the defense market. Under the deal, Starman Optical will take a 90% stake and existing GoPro shareholders will hold 10%. Shareholders will receive $285 million in cash, or $1.14 per share. GoPro shares jumped 38% after the announcement and will remain listed on Nasdaq after closing, expected by year-end.
Industry
Insta360, Viltrox show signs of moving into mirrorless cameras, could shake Japan-led market
Chinese companies are emerging as new variables in the mirrorless camera market dominated by Japanese brands such as Canon, Sony and Nikon. Insta360 has formalised plans to develop its own mirrorless cameras, with its CEO saying it is working on 2 models. Lens maker Viltrox is also drawing attention after joining the L-Mount Alliance and reports about new APS-C L-mount lenses fuel speculation about a camera body, though it has made no official announcement.
Industry
GoPro enters final stage of sale review after $51 million Q2 net loss
GoPro posted a $51 million net loss for the second quarter and said its process to review a possible sale of the company has entered its final stage. Camera shipments in April to June fell 38 percent from a year earlier and revenue dropped 31 percent to $105 million, while cash and cash equivalents slid to $27.3 million. The company has flagged substantial doubt about continuing operations over the next 12 months.
