GoPro Inc, the company that makes popular action cameras, on Tuesday announced plans to buy Kolor, a French-based firm specializing in virtual reality and other video technologies.
Kolor is known for “spherical media” technology, which enables video and television images to be displayed on a globe-like device.
The terms of the deal were not disclosed.
Kolor employees are to join GoPro and will maintain operations at their headquarters in Savoie, France, according to a statement from California-based GoPro.
Kolor has been part of an alliance aimed at developing future TV technologies that give viewers a panoramic or virtual-reality perspective.
Some of those images were displayed at this year’s Consumer Electronics Show in Las Vegas.
It uses “image-stitching” technology to combine multiple photographs or videos to produce high-resolution panoramic or spherical content that can be shown on a variety of devices or screens.
“We are excited to welcome Kolor to GoPro,” GoPro founder and CEO Nicholas Woodman said. “GoPro’s capture devices and Kolor’s software will combine to deliver exciting and highly accessible solutions for capturing, creating and sharing spherical content.”
GoPro, which had a stock offering last year, makes cameras that have become common among people involved in extreme sports and routine athletic outings, and have even been used by emergency or disaster workers.
The company beat analysts’ estimates for first-quarter revenue and profit, spurred in part by overseas sales that rose to about half of the company’s revenue.
GoPro posted profit of US$0.24 per share, excluding certain costs, the company said on Tuesday in a statement. Revenue was US$363.1 million, compared with the average estimate of US$341.1 million.
Second-quarter profit will be US$0.24 to US$0.26 per share, the company said on a conference call. Sales will be US$380 million to US$400 million, compared with estimates of US$333.7 million, it said.
Additional reporting by Bloomberg
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