GoPro To Acquire Forcite, Maker Of Tech-Enabled Helmets; No Financial Terms Disclosed

Author: Benzinga Newsdesk | January 16, 2024 05:08pm

GoPro, Inc. (NASDAQ:GPRO) today announced an agreement to acquire Forcite Helmet Systems, a pioneer in embedding technology into helmets. GoPro intends to accelerate Forcite's vision to provide a safer, more dynamic motorcycling experience through tech-enabled motorcycle helmets with the long-term goal of tech-enabling other categories of helmets over time.

"The greater helmet market represents a meaningful TAM expanding opportunity for GoPro, and we're excited for the Forcite team to join us so that together we can work towards enhancing the performance and safety of various types of helmets, starting with motorcycle helmets," said GoPro founder and CEO, Nicholas Woodman. "GoPro has built a strong brand internationally across all forms of motorsports and has enjoyed a strong following with motorcycle enthusiasts. We're excited to leverage our brand reputation along with our technical and operational capabilities to address what we believe is a long-term growth opportunity for our business."

Woodman adds, "In addition to our plan to develop our own GoPro-branded line of helmets, we are excited to partner with other leading helmet brands to help tech-enable their own helmet lines. We have great respect for established brands, and we look forward to working with them to help drive the industry forward, together."

Leading helmet brands interested in partnering with GoPro should contact GoPro directly at partnerships@gopro.com.

GoPro's acquisition of Forcite is expected to close in Q1 of 2024, subject to customary closing conditions. GoPro will share more details on the deal at its Q4 and 2023 earnings conference call on February 7, 2024.

For more information about Forcite, visit Forcitehelmets.com.

Posted In: GPRO