In a significant expansion of its product range, GoPro, Inc. has announced an agreement to acquire Forcite Helmet Systems, a company at the forefront of integrating technology into helmets. This move is set to revolutionize the helmet industry, with GoPro planning to first focus on motorcycle helmets before extending its technology to other helmet categories.
Nicholas Woodman, the founder and CEO of GoPro, emphasized the potential of this acquisition to tap into a substantial Total Addressable Market (TAM) in the broader helmet sector. “The greater helmet market represents a meaningful TAM expanding opportunity for GoPro, and we’re excited for the Forcite team to join us,” Woodman stated. He highlighted GoPro’s intention to enhance the performance and safety features of various helmet types, leveraging the company’s established motorsports brand and dedicated motorcycle enthusiast following.
Woodman also announced plans for GoPro to develop its own line of branded helmets in addition to collaborating with other leading helmet manufacturers. “In addition to our plan to develop our own GoPro-branded line of helmets, we are excited to partner with other leading helmet brands to help tech-enable their own helmet lines,” he added. This strategy reflects GoPro’s respect for established brands and its commitment to collectively advancing the industry.
GoPro’s acquisition of Forcite is a strategic move expected to conclude in Q1 of 2024, subject to customary closing conditions. More details about this deal will be shared in GoPro’s Q4 and 2023 earnings conference call, scheduled for February 7, 2024.
For further information about Forcite and its innovative helmet technologies, please visit Forcitehelmets.com.