GoPro exploring possibility of sale or merger

GoPro has revealed it is exploring major strategic options for the future of the business, including the possibility of a sale or merger.

In a statement released this week, the action camera maker said its board had authorised a formal strategic review process and would hire financial advisers to assess a range of potential opportunities aimed at 'maximising value' for shareholders.

The company said the review follows recent moves to expand into the defence and aerospace sectors, an initiative it announced in April. Since then, GoPro said it had received several unsolicited approaches from outside parties interested in potential strategic deals.

Founder and CEO Nicholas Woodman said GoPro had built significant technology, intellectual property and manufacturing capabilities over the past 24 years.

“We are excited to work with our advisors to evaluate potential opportunities in various sectors to maximise shareholder value,” Woodman said.

GoPro did not provide further details on the nature of the inquiries or potential buyers, and stressed that no decisions had been made. The company also said there was no guarantee any transaction would proceed.

The announcement comes after years of mixed fortunes for GoPro’s core consumer camera business, which has faced increasing competition from smartphones and rival camera brands, and just a matter of weeks since it announced an entirely new product line - the Mission 1.

It's also a company that has seen its fortunes rise and fall dramatically - at its peak in 2014, GoPro was valued at $10bn USD, while today, its capitalisation is below $200 million.