GoPro recently announced an agreement to acquire Forcite Helmet Systems, a pioneer in embedding technology into helmets. And GoPro plans 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.
GoPro’s acquisition of Forcite is expected to close in Q1 of 2024, subject to customary closing conditions. And GoPro will share more details on the deal at its Q4 and 2023 earnings conference call on February 7, 2024.
KEY QUOTES:
“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. 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.”
“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.”
– GoPro founder and CEO, Nicholas Woodman
