On January 16, 2024, GoPro and Forcite Helmets both announced that they'd signed agreements for GoPro to acquire Forcite Helmet Systems. The deal has not been completed yet, but is expected to close sometime in Q1 of 2024.
According to their statements, the immediate plan is for the teams to continue working together in tandem. Part of GoPro's statement reads, "GoPro intends to accelerate Forcite's vision to provide a safer, more dynamic motorcycling experience through tech-enabled motorcycle helmets with the long-term goal of tech-enabling other categories of helmets over time."
"The greater helmet market represents a meaningful TAM [total addressable market] expanding opportunity for GoPro, 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, starting with motorcycle helmets," GoPro founder and CEO Nicholas Woodman said in a statement.
"GoPro has built a strong brand internationally across all forms of motorsports and has enjoyed a strong following with motorcycle enthusiasts. 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," he continued.
"In addition to our plan to develop our own GoPro-branded line of helmets, we are excited to partner with other leading helmet brands to help tech-enable their own helmet lines. We have great respect for established brands, and we look forward to working with them to help drive the industry forward, together," Woodman concluded.
Forcite's own statement reads, "We have some exciting news to share. Forcite has signed an agreement to be acquired by GoPro. As many of you know, GoPro is a major global brand and digital imaging company with millions of people around the world enjoying their market leading products and technology. Notably, GoPro has a long heritage and very strong brand in motorsports, and the Forcite team is beyond thrilled to come together with them to scale our collective businesses and innovate in an outstanding way."
GoPro says that more details about the acquisition will be presented in its upcoming earnings call with investors in February.
Are you excited to see what GoPro and Forcite do together? Let us know in the comments.