It’s all systems go for Go-Pro growth, with the high-def action camcorder company announcing this week that it has acquired a company in the virtual reality tech space. Headquartered in France, Kolor specializes in spherical media solutions and other “immersive” experiences.
According to the company website, Kolor lets users “create awesome panoramas, virtual tours and 360-degree videos.” GoPro’s plan is to put Kolor’s expertise to work capitalizing on the presumed demand for recording and sharing spherical content. The center for Kolor operations will remain in Savoie, France, where employees will now report directly to GoPro.
The announcement came packaged with exciting numbers for GoPro’s first quarter of 2015, which report a total revenue of $363 million and a profit of almost $17 million. The second-best performing quarter in GoPro history, that amounts to a 54 percent year-over growth.
Highlights of the report include the unsurprising findings that the top five best-selling camcorders in the U.S. bear the GoPro logo. Also of note was the announcement of a recently launched GoPro Channel on Vessel, a premium short-form online video streaming service. An accompanying video was also released on the official GoPro YouTube channel, which is an impressive show of the direction the company is headed next.