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GoPro to Buy Video-Editing App Companies for $105 Million

2016-03-01 5 Dailymotion

GoPro Inc. is buying two video-editing app companies for a total of $105 million in cash and stock as the company seeks to diversity its top line amid a challenging market for its wearable cameras.<br />The move to buy video-editing developers Stupeflix, based in Paris, and Vemory, based in Austin, Texas, is the latest by GoPro to shore up its struggling business.<br />The company last month said it would cease production of some entry level cameras, following a recent 7% reduction in its workforce and a 50% price cut to its newest camera.

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