GoPro Explores Strategic Alternatives Following Unsolicited Inquiries

(RTTNews) - Action camera maker GoPro Inc. (GPRO) on Monday announced that its board has initiated a review of strategic alternatives, including a potential sale or merger, after receiving unsolicited inquiries related to its expansion into the defense and aerospace markets.

The company said its board authorized a strategic review process and plans to engage a financial advisor to evaluate alternatives aimed at maximizing shareholder value.

GoPro said the review follows its recent engagement of consulting firm Oliver Wyman to support expansion into defense and aerospace opportunities.

Since announcing that initiative on April 13, the company said it has received several unsolicited strategic inquiries.

"Over the past 24 years, GoPro has developed significant technology, IP, and brand assets along with world-class product development and scaled manufacturing capabilities," said Nicholas Woodman, GoPro's founder and CEO. "We are excited to work with our advisors to evaluate potential opportunities in various sectors to maximize shareholder value."

The company said the board has not established a timetable for completing the review and has not made any decisions regarding potential transactions.