Foxconn Acquires $200 Million Stake in GoPro
World's Largest Electronics Manufacturing Company Buys 8.88% of GoPro, Foxconn
Founder and CEO Terry Gou to Join GoPro's Board
SAN MATEO, Calif., Dec. 20, 2012
SAN MATEO, Calif., Dec. 20, 2012 /PRNewswire/ --GoPro® announced today that
Hon Hai Precision Industry Co., Ltd, the world's largest electronics
manufacturing company also known as Foxconn, has acquired an 8.88%
full-diluted stake in GoPro for $200 million, valuing the company at $2.25
billion. GoPro makes the world's most versatile cameras, enabling people to
capture and share immersive and engaging footage of themselves during their
favorite activities. Terry Gou, Foxconn'sFounder and CEO, will join GoPro's
board. Notable products manufactured by Foxconn include Apple's iPhone®,
iPad®, Sony PlayStation®, and Microsoft Xbox®.
"Needless to say, we are over the moon to have Terry Gou and Foxconn join us
on our mission to scale GoPro into one of the great enabling companies of our
time," said GoPro Founder and CEO, Nicholas Woodman. "Foxconn and GoPro see a
future where personal content capture and enjoyment will play an increasingly
important role in our lives and we're excited to combine efforts to strengthen
GoPro's position in that future."
Terry Gou added, "I saw a great opportunity in investing in GoPro, not only
the company's product lines but also the man who is running the company. The
first time I saw Nick Woodman, I immediately knew he was an outstanding
entrepreneur who has the caliber to be very successful in this business. And
together with Foxconn, the outlook of this company is even brighter as we
commit to helping it achieve its fullest potential."
GoPro makes the world's most versatile cameras, enabling people to capture
immersive and engaging footage of themselves during their favorite activities.
GoPro's HERO line of wearable and gear mountable cameras are used collectively
by more consumers, professional athletes, and video production professionals
than any other camera in the world. Based in San Mateo, California, GoPro's
products are available in more than 30,000 stores in over 100 countries
worldwide and direct via GoPro.com.
GOPRO®, HERO®, are trademarks or registered trademarks of Woodman Labs, Inc.
in the United States and other countries. All other company, product names
are trademarks or registered trademarks of their rightful owners.
Contact: Rick Loughery, +1-415-738-2480 ext. 722, or Kash Shaikh,
+1-415-738-2480 ext. 7195, email@example.com
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