Microsoft said Friday it has signed a patent license agreement with GoPro covering technology file storage.
GoPro shares, which have been hit this week and in recent months, added 6.2 percent in after-hours trading to $ US10.58 per share. Microsoft shares ticked up 0.2 percent.
The patent licensing agreement comes just days after GoPro announced a lower profit in the fourth quarter, fueling concerns about the health of your business selling portable cameras heart.
The agreement with Microsoft will cover some of the technologies and storage of files.
Nick Psyhogeos, president of the patent business of Microsoft, said the company is experiencing strong demand for mobile technologies, which already has a license. Microsoft did not elaborate on the deal.
A GoPro representative did not immediately respond to requests for comment.
GoPro shares ended the week up to 13 percent after saying sales would decline this year and announced the departure of a senior executive. The stock fell 46 percent last month and 82 percent in the past year.
GoPro has been affected by fears that the market for portable cameras are dry, while also facing competition from overseas manufacturers and smartphone technology. The company is studying a number of new revenue streams, including unmanned aircraft that will be published later this year and shooting license content on their devices for media companies.
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