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Xiaomi Is Considering Acquiring GoPro: Report

Xiaomi Is Considering Acquiring GoPro: Report 1x3e69

By Jagmeet Singh | Updated: 13 April 2018 17:13 IST

Highlights

Xiaomi is reportedly in plans to acquire GoPro
The Chinese company is said to pay up to $1 billion for the deal
GoPro confirmed that it's open to sale in January

ment

While Yi to take on GoPro Hero series. 17445v

According to a DJI was under pressure by bankers to acquire GoPro. That deal wasn't finalised, though.

The plans for a acquisition were first revealed by none other than GoPro itself in January. The San Mateo, California-based company released a media statement after some reports claimed that the company had hired investment banking company JP Morgan. "We've always been clear that we are open to any opportunity that will help us scale our mission. JP Morgan is our banker, but there is no active engagement to sell," the company had stated at that time in an email to Reuters.

Alongside confirming its openness for being acquired, GoPro also in January announced its plans to cut 20 percent of its global workforce, more than 250 jobs, and shut down its drone business that was designed to sell arrived in 2016 after months of its anticipation. The range was importantly aimed to compete against similar offerings built by DJI.

Neither GoPro nor Xiaomi has confirmed the acquisition plans. Nevertheless, it sounds interesting as Xiaomi is already selling GoPro Hero rivals in the form of Yi Action Camera models. GoPro also has a 4K model at the launch price of Rs. 17,990.

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