Chinese Ninebot Buys Segway

Posted: Apr 15 2015, 8:19am CDT | by , in News | Latest Business News


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Chinese Ninebot buys Segway

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Segway changed owner again. This time it likely found its final home.

The Segway invented by Dean Kamen was one of the hottest tech back in in early 2000. The Segway failed to catch on for consumers mainly through regulations. Segway offers now specialized version of industry and governments.

Today Chinese Ninebot Limited, a player in the short-distance transportation industry, and Segway Inc. announced today that they have completed a strategic combination. The combined company will focus on research and development, manufacturing, sales and service in the short-distance transportation industry, with the goal of promoting the rapid development of that industry and leading the revolution of mobile robotics solutions. Both Ninebot and Segway will continue to operate under their existing brand names.

“This strategic combination is a milestone for both Ninebot and Segway. It creates a development opportunity for the short-distance transportation industry, which the combined company will lead by widely applying a series of technologies, such as electric driving, mobile internet and human-computer interaction, on future products,” said Lufeng Gao, founder and Chief Executive Officer of Ninebot. “We are confident that this combination will help promote the development of short-distance transportation as well as the growth in the mobile robotics platform industry. As a result of these two well-known brands joining forces, we will be able to provide more convenient and greener solutions,” continued Mr. Gao.

“After the strategic combination, Ninebot and Segway will be able to cooperate closely with each other on technology and marketing, strengthening their research and development, manufacturing, marketing and sales capabilities. Intelligent hardware has grown quickly worldwide during the past several years. Our combination with Ninebot will enable us to provide more intelligent and valuable products to our customers. We are confident in our future,” said Rod Keller, President of Segway. After the transaction, Segway has become a wholly-owned subsidiary of Ninebot.

The Segway will stay around and maybe find a growth market in China with the help of Ninebot.

Last year Segway had still Ninebot on the list for an ITC investigation on patent and copyright infringement allegations.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
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