GoPro, the pioneer in action cameras, is set to be acquired for $285 million by Starman Optical, a company with a focus on optical technologies. This deal, expected to close by the end of this year, will see GoPro shareholders receive $1.14 per share, leaving them with about 10% of the newly combined company.

The move comes after years of financial struggles for GoPro, which has tried to diversify into drones and 360-degree cameras without much success. The company now plans to leverage both its IP and Starman’s capabilities to explore consumer, commercial, and defence markets.

Charles Tebele, CEO of Starman Holdings, sees the merger as a unique opportunity to bring production of critical optical components back to the United States. Meanwhile, GoPro intends to support its existing consumer products while investing in a broader product roadmap.

The future for GoPro is uncertain, given that Starman Optical is a relatively new player without a significant track record. However, the deal could position GoPro as a leading American imaging and optical solutions company, addressing important areas of national security.