Foxconn buys minority stake in GoPro for $200 million

Shovels are seen at a ground breaking ceremony for Foxconn's new China headquarters building in Shanghai(Reuters) – Taiwanese electronics manufacturer Foxconn said on Thursday that it had bought an 8.88 percent stake in GoPro for $ 200 million, giving the U.S. camera maker a valuation of $ 2.25 billion. Foxconn, which trades as Hone Hai Precision Industry Co, said its founder and chief executive officer, Terry Gou, would join GoPro's board. Reuters reported in July that GoPro, which makes wearable cameras used by surfers and extreme sports enthusiasts, was planning a public offering of $ 300 million to $ 500 million next year, citing sources close to the matter. …


Full Story Via Tech News Headlines – Yahoo! News


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>