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Report: Chinese Company Looking to Buy GoPro
By Joseph Tepper, April 14, 2018 @ 07:19 AM (EST)

It’s been a tough stretch for GoPro of late. Perhaps an overused metric, the company’s stock price is currently sitting at around $5 per share, which is a far cry from the $90 price in 2014. But investors might see a silver lining as a potential GoPro buyer emerges to save the day.

The Chinese tech company Xiaomi has considered making an offer to acquire GoPro, according to a report from The Information. Xaiomi seems like a good fit, as the company already makes a GoPro HERO competitor and entry-level mirrorless camera. 

We’ve known about a potential GoPro sale for several months now, after CEO Nick Woodman told CNBC he’d be open to an acquisition. Despite this desire, the offers haven’t exactly been rolling in: In fact, prior to the Xaiomi report there had been no solid offers in the works. And so GoPro is still waiting for a firm acquisition possibility while trying to keep the company afloat by licensing its tech to third parties and unveiling $200 action cameras aimed at a mass audience. 

GoPro currently has a market cap of $795 million (compared to $10 billion just a few years ago). The purchase price is expected to come in around $1 billion. Read more in The Information’s report

h/t [PetaPixel]
  

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