SAN
MATEO, Calif., Jan. 16,
2024 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO)
today announced an agreement to acquire Forcite Helmet Systems, a
pioneer in embedding technology into helmets. GoPro intends to
accelerate Forcite's vision to provide a safer, more dynamic
motorcycling experience through tech-enabled motorcycle helmets
with the long-term goal of tech-enabling other categories of
helmets over time.
"The greater helmet market represents a meaningful TAM expanding
opportunity for GoPro, and we're excited for the Forcite team to
join us so that together we can work towards enhancing the
performance and safety of various types of helmets, starting with
motorcycle helmets," said GoPro founder and CEO, Nicholas Woodman. "GoPro has built a strong
brand internationally across all forms of motorsports and has
enjoyed a strong following with motorcycle enthusiasts. We're
excited to leverage our brand reputation along with our technical
and operational capabilities to address what we believe is a
long-term growth opportunity for our business."
Woodman adds, "In addition to our plan to develop our own
GoPro-branded line of helmets, we are excited to partner with other
leading helmet brands to help tech-enable their own helmet lines.
We have great respect for established brands, and we look forward
to working with them to help drive the industry forward,
together."
Leading helmet brands interested in partnering with GoPro should
contact GoPro directly at partnerships@gopro.com.
GoPro's acquisition of Forcite is expected to close in Q1 of
2024, subject to customary closing conditions. GoPro will share
more details on the deal at its Q4 and 2023 earnings conference
call on February 7, 2024.
For more information about Forcite, visit
Forcitehelmets.com.
About GoPro, Inc. (NASDAQ: GPRO)
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Report for being among the best places to work. Open roles
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Note on Forward-looking Statements
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forward-looking statements within the meaning Section 27A of the
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"should," "will" and variations of these terms or the negative of
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press release may include but are not limited to statements
regarding our expectations to expand our product portfolio,
addressable market, growth, expanded distribution and overall
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and uncertainties, and actual events or results may differ
materially. Among the important factors that could cause actual
results to differ materially from those in the forward-looking
statements include the inability to achieve our revenue growth or
profitability in the future, and if revenue growth or profitability
is achieved, we may not be able to sustain it; the fact that an
economic downturn or economic uncertainty in our key U.S. and
international markets, inflation, volatility in the global banking
system, and fluctuations in interest rates or currency exchange
rates may adversely affect consumer discretionary spending and
demand for our products; the fact that our goal to grow revenue and
be profitable relies upon our ability to grow sales from our
direct-to-consumer business and our retail partners and
distributors; our ability to acquire and retain subscribers; our
reliance on third-party suppliers, some of which are sole-source
suppliers, to provide services and components for our products
which may be impacted due to supply shortages, long lead times or
other service disruptions and may lead to increased costs due to
the effects of global conflicts and geopolitical issues such as the
conflicts in Israel and
Ukraine or China-Taiwan
relations, inflation or the negative impact on exchange rates; our
ability to maintain the value and reputation of our brand and
protect our intellectual property and proprietary rights; the risk
that our sales fall below our forecasts, especially during the
holiday season; the risk we fail to manage our operating expenses
effectively, and may result in our financial performance suffering
the fact that our continued profitability depends in part on
further penetrating our total addressable market, and we may not be
successful in doing so; the fact that we rely on sales of our
cameras, mounts and accessories for substantially all of our
revenue, and any decrease in the sales or change in sales mix of
these products could harm our business; the risk that we may not
successfully manage product introductions, product transitions,
product pricing and marketing; the fact that a small number of
retailers and distributors account for a substantial portion of our
revenue and our level of business with them could be significantly
reduced; our ability to attract, engage and retain qualified
personnel; any changes to trade agreements, trade policies,
tariffs, and import/export regulations; the effects of the highly
competitive market in which we operate, including new market
entrants; the fact that we may experience fluctuating revenue,
expenses and profitability in the future; risks related to
inventory, purchase commitments and long-lived assets; the risk
that we will encounter problems with our distribution system; the
threat of a security breach or other disruption including
cyberattacks; the concern that our intellectual property and
proprietary rights may not adequately protect our products and
services; and other factors detailed in the Risk Factors section of
our Annual Report on Form 10-K for the year ended December 31, 2022, which is on file with the
Securities and Exchange Commission (SEC), and as updated in filings
with the SEC. These forward-looking statements speak only as of the
date hereof or as of the date otherwise stated herein. GoPro
disclaims any obligation to update these forward-looking
statements.
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SOURCE GoPro, Inc.