Rumor: Xiaomi is considering acquisition of GoPro
According to recent rumors, the Chinese manufacturer Xiaomi is considering a takeover of the American action camera maker GoPro. The company’s CEO, Nick Woodman, has previously indicated that it is open to sale to a larger company.
The source of the coverage is the site The Information which relies on a source with knowledge of the plans of Xiaomi. The person says that the company weighs the possibility of a takeover, but that it does not want to pay too much. Another source claims in turn that GoPro was nominated as an option by bankers to DJI, but that the drone maker ‘saw no value in the company’ and therefore did not want to try to close an agreement.
Early this year GoPro CEO Nick Woodman said that, in addition to working together, he considered the sale of the company, preferably to a larger company to have the opportunity to grow. He furthermore sees that GoPro wishes to remain independent in the event of a possible takeover. At the time there were rumors that the action camera maker was looking for a takeover candidate.
According to The Information, the value of GoPro shares in 2018 fell about 36 percent and investors hope that a takeover will raise the price again. Bloomberg reports that the news about the possible takeover by Xiaomi also produced this effect. GoPro is mainly known for its Hero-action cameras and was briefly engaged in the development of drones. With this it stopped at the beginning of this year. The company has undergone several reorganisations.
Early this year GoPro CEO Nick Woodman said that, in addition to working together, he considered the sale of the company, preferably to a larger company to have the opportunity to grow. He furthermore sees that GoPro wishes to remain independent in the event of a possible takeover. At the time there were rumors that the action camera maker was looking for a takeover candidate.
According to The Information, the value of GoPro shares in 2018 fell about 36 percent and investors hope that a takeover will raise the price again. Bloomberg reports that the news about the possible takeover by Xiaomi also produced this effect. GoPro is mainly known for its Hero-action cameras and was briefly engaged in the development of drones. With this it stopped at the beginning of this year. The company has undergone several reorganisations.