GoPro Sells $200 Million Stake to Foxconn – Hon Hai Precision

GoPro Sells $200 Million Stake to Foxconn – Hon Hai Precision

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San Mateo, CA—Hon Hai Precision Industry Co., Ltd. (also known as Foxconn), among the world’s largest electronics manufacturing companies, acquired an 8.88% full-diluted stake in GoPro for $200 million, valuing the company at $2.25 billion. Terry Gou, Foxconn’s founder and CEO, will join GoPro’s board

GoPro is the maker of wearable sports action POV (point of view) cameras that enable people to capture and share immersive footage of themselves during their favorite activities. 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’s 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.com

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