CA-based GoPro to acquired Forcite Helmet Systems firm with headquarters in Australia that specialises in adding electronics to helmets. The deal’s total value was not made public. It is anticipated to close in the first quarter of 2024, subject to usual closing conditions.
GoPro’s acquisition will hasten Forcite’s mission to offer tech-enabled motorcycle helmets that make riding safer and more exciting. Over time, the company hopes to tech-enable other types of helmets as well.
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GoPro was founded in 2002 by Nick Woodman. In addition to producing well-known action cameras, the company also creates mobile applications, video editing software, and associated accessories.
Revenue for the company in Q3 2023 was $294 million, 4% less than the previous year and 5% above the midpoint of guidance. $231 million, or 78% of total income, came from the retail channel, a 12% increase over the previous year.
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Income from GoPro.com, including membership and service fees, was $63 million, or 22% of overall income, and it had decreased by 36% from the previous year. Revenue from subscriptions and services rose 16% to $25 million in the previous year. Adjusted EBITDA was $7 million as opposed to $35 million during the same period last year.
About Forcite
Regardless of what or how you ride, Forcite aims to make riding safer and more exciting. Together, we’re leading the way in the industry with the newest and most sophisticated integrated technologies—all without sacrificing that crucial sense of independence.
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About GoPro
GoPro was established in 2002 by Nick Woodman, a photo and video enthusiast who wanted to find a better way to capture himself and his buddies surfing. Since then, the company has developed into a globally renowned innovator known for its incredibly functional and adaptable gear.
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