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Xiaomi reportedly in talks of buying GoPro

Earlier this year it was reported that GoPro had put itself up for sale. It seems that the company isn’t doing so well and is looking to sell itself off. However what’s interesting is that according to a report from The Information (paywall; via Bloomberg), one potential candidate to buy GoPro comes in the form of Chinese smartphone giant, Xiaomi.

As per the Bloomberg report, GoPro could fetch as much as $1 billion based on what HP had paid for acquiring Palm. Woodman has approached investment bank JPMorgan Chase & Co to get advice on this possible acquisition deal.

However, Xiaomi has said that it does not want to overpay for the deal, according to the report.

GoPro has been through some rough times as its market capitalisation is $761 million when at one time the company was valued at more than $10 billion, says the report.

As per Android Headlines, this news follows a report in January where GoPro said that it would be letting go of its drone segment on account of its business woes. Right now the details available about this deal are scarce, however, we shall keep you updated as the story develops.

GoPro recently launched its GoPro HERO camera in India for a price of Rs 18,990 and is available for purchase exclusively on Flipkart.

 

Source Bloomberg
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