Red Bull partners with GoPro

Red Bull and GoPro have signed an agreement to put the high-definition video cameras and other recording products at 1,800 Red Bull events in more than 100 countries.

Red Bull is receiving less than 1 percent of the company's Class A shares.

As early as this summer, the companies will co-produce live video and other footage. Each company will have the same distribution rights.

GoPro, which has seen its stock drop by 45 percent this year, surged at least 7 percent yesterday following the announcement.

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