GoPro Buys Helmet Maker Forcite

<p>goPro has recently agreed to acquire Forcite Helmet Systems&comma; a pioneer in embedding technology into helmets&period; GoPro intends to accelerate Forcite’s vision to provide a safer&comma; more dynamic motorcycling experience through tech-enabled motorcycle helmets with the long-term goal of tech-enabling other categories of helmets over time&period; Forcite is based in Australia and terms of the purchase weren&&num;8217&semi;t released&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;The greater helmet market represents a meaningful TAM expanding opportunity for GoPro&comma; 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&comma; starting with motorcycle helmets&comma;” says GoPro founder and CEO&comma; Nicholas Woodman&period; &OpenCurlyDoubleQuote;GoPro has built a strong brand internationally across all forms of motorsports and has enjoyed a strong following with motorcycle enthusiasts&period; 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&period;”<&sol;p>&NewLine;<p>Woodman adds&comma; &OpenCurlyDoubleQuote;In addition to our plan to develop our own GoPro-branded line of helmets&comma; we are excited to partner with other leading helmet brands to help tech-enable their own helmet lines&period; We have great respect for established brands&comma; and we look forward to working with them to help drive the industry forward&comma; together&period;”<&sol;p>&NewLine;<p>GoPro expects to close the purchase of Forcite in the first quarter of 2024&period;<&sol;p>&NewLine;