GoPro Maybe Purchased by Chinese Company Xiaomi

GoPro

GoPro Inc. jumped as much as 8.8 percent after a report said Chinese electronics maker Xiaomi Corp. has weighed whether to make an offer for the action-camera maker.

Chief Executive Officer Nick Woodman has said he is open to a deal and earlier this year the company hired investment bank JPMorgan Chase & Co. to advise it on a potential sale. Once valued at more than $10 billion, GoPro’s market capitalization has fallen to about $761 million. A buyer could leverage GoPro’s brand and gain profit contributions from device sales, analysts have said.

GoPro could potentially fetch $1 billion, The Information said, based on the price that Hewlett Packard paid for Palm, also a struggling electronics maker, in 2010. While Xiaomi has considered an offer, it doesn’t want to overpay, The Information said, citing a person familiar with the matter.

Source: Bloomberg

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About Wing Lui 2053 Articles
aka Proplus. Constantly looking for innovative ideas. Prefers tech that doesn't waste time. Gone are the days of overclocking, cascade cooling and watercooling. Gadgets, give me more gadgets!!