Printed from http://www.electronista.com

Foxconn pays $200M for 9 percent share of GoPro, joins board

updated 11:25 am EST, Thu December 20, 2012

Purchase raises GoPro valuation to over $2 billion

Foxconn has bought an almost 9-percent stake in sports camera maker GoPro. The Taiwanese electronics giant agreed to pay $200 million for the shares, which will see Foxconn founder and CEO Terry Gou join the GoPro board. The purchase gives GoPro a valuation of around $2.25 billion, based on Foxcon's ownership of 8.88-percent of the company.

GoPro founder and CEO Nicholas Woodman welcomed Foxconn, and hopes "to scale GoPro into one of the great enabling companies of our time." The new company valuation far exceeds the $300 million to $500 million that GoPro expected to be when it planned to go public next year, according to sources of Reuters in June. The new investment makes it unlikely to go public, at least not for the value the company expected.

Foxconn continues to be a major force in electronics manufacturing, with notable clients including Apple and Microsoft, and according to rumors, may be producing a 5-inch smartphone for Amazon. The company is also looking to expand its North American production facilities in the future, and has also bought lad near Sao Paulo in Brazil for a new factory.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Life n Soul 8 Driver Bluetooth headphones

When it comes to music on the go, consumers generally have some options to consider when looking for the best experience. While Blueto ...

Tesoro Tizona G2N Elite gaming keyboard

The market for gaming keyboards is getting crowded, starting off with some fairly simple keyboards and diverging into the land of modu ...

GX Gaming DeathTaker mouse

Gaming is a serious endeavor for many people, driving them to look for the best performance in their system and interface devices. Fro ...

Sponsor

toggle

Most Commented

 
toggle

Popular News