Segway becomes a Chinese-owned company following acquisition by Ninebot

Beijing-based Ninebot, also a maker of self-balancing personal transportation devices, was previously sued by Segway for patent infringement

Chinese company Ninebot won't be accused of offering knockoff Segways any longer: On Wednesday, the three-year-old startup announced it had acquired Segway.

Ninebot's CEO Gao Lufeng said the U.S. company is an influential brand, with a strong patent portfolio and market presence.

"With the two brands together we will have a lot of resources," Gao said at a news conference in Beijing.

Segway president Rod Keller sent a videotaped message, saying: "Today, Segway became a part of the Ninebot family."

With the acquisition, Ninebot's payroll will grow from 400 to 500. The deal will pave the way for Ninebot's international expansion in the personal transporter market. Segway will act as a subsidiary of Ninebot, which will use both brands, it said.

The companies haven't always been this close: Last year, Segway filed a complaint against Ninebot with the U.S. International Trade Commission, alleging that Ninebot had infringed on its patents.

"It seemed like we were facing a competitor that was tough to beat," Gao said.

The companies began negotiating the acquisition in October. They didn't reveal the terms of the deal, although Gao said the price would make someone go "wow."

Ninebot also announced Wednesday that it has received new investments totalling $80 million from Chinese handset manufacturer Xiaomi and other investment firms.

Xiaomi CEO Lei Jun said he supported the acquisition, and Ninebot's effort to become an international brand. His company is hoping to accomplish the same, and is expanding into markets across Asia.

"Xiaomi's strategy is to push development in smart hardware and in the Internet of Things, and then connect them with the smartphone," he said.

Ninebot's CEO added that he hopes to collaborate with Xiaomi on product integration.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesintellectual propertypatenttransportationlegalSegwayNinebotindustry verticalsMergers and acquisitionsXiaomi

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Michael Kan

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Matthew Stivala

HP OfficeJet 250 Mobile Printer

The HP OfficeJet 250 Mobile Printer is a great device that fits perfectly into my fast paced and mobile lifestyle. My first impression of the printer itself was how incredibly compact and sleek the device was.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?