Thursday, December 20, 2012

FoxConn Buys $200M Stake In GoPro

Consumer electronics manufacturer FoxConn (Hon Hai Precision Industry Co., Ltd.) has made an investment of $200M in San Mateo-based GoPro, the maker of the popular line of action sports cameras, GoPro said this morning. GoPro said the investment gives Foxconn an 8.88% fully diluted stake in the company, valuing the firm at $2.25 billion. As part of the investment, Terry Gou, Founder and CEO of FoxConn, will join the company's board. GoPro's cameras have become one of the most popular accessories for amateur athletes, video production companies, and others for shooting action sports. FoxConn manufacturers Apple's iPhone, iPad, Microsoft Xbox, the Sony PlayStation, and hundreds of other consumer electronic products. More information »