After slashing its fourth-quarter outlook and stating it would cut about a quarter of its workforce, GoPro has hired J.P. Morgan to explore a sale, according to reports from CNBC and Reuters.
CNBC’s Alex Sherman, citing multiple unnamed sources, writes “no sale is assured” and that “it’s unclear if there is an interested buyer for the company.”
Sherman also noted that Nick Woodman, GoPro’s CEO, was earlier quoted on CNBC indicating he would not be averse to a sale. He reportedly stated, “if there are opportunities for us to unit with a bigger parent company to scale GoPro even bigger, that is something that we would look at.”
In an e-mail sent to Reuters, GoPro said, “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. It is our responsibility to scale the business, so if the right opportunity presented itself, it’s something we would consider.”
In its statement on January 9, GoPro also said it was exiting the drone business.
