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Home >> Foxconn Spends $200M For A Stake In GoPro
SAN MATEO, CALIF. — GoPro announced that Hon Hai Precision Industry, also known as Foxconn, has acquired an 8.88 percent full-diluted stake in GoPro for $200 million, valuing the company at $2.25 billion.
GoPro is a manufacturer of wearable and gear-mountable cameras that are used by consumers, professional athletes and video-production professionals.
GoPro said in a statement said that Terry Gou, Foxconn’s founder and CEO, will join GoPro’s board. Notable products manufactured by Foxconn include Apple’s iPhone and iPad, Sony’s Play- Station and Microsoft’s 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.