segwayWe’re sure at one point in time, there were some who believed that the Segway would be the new mode of human transportation. It was small and fast enough, but unfortunately its price was not particularly friendly, at least to the masses. However there is one company that thinks Segway has value, and it is a company based in China called Ninebot.

For those who are unfamiliar, Ninebot is a company that manufactures products similar to the Segway. In fact Segway filed a complaint against Ninebot last year claiming patent infringement, so it is rather ironic that Ninebot has recently announced that they will be acquiring Segway, which in the process we can only assume they will acquire the necessary patents too.

This is not the first time that Segway has been acquired. Previously it was purchased by UK-based CEO Out back in 2010, before it was sold to Summit Strategic Investments in 2013, so the acquisition by Ninebot makes it the third time that the company has been acquired since it was launched back in 2001.

In a statement released by Segway, “The strategic alliance with Ninebot will enable us to provide more intelligent and valuable products for our customers. We are fully confident about our future.”

As for Ninebot, the company’s CEO had this to say about their latest acquisition. “After establishing the alliance, the company will apply a series of technologies into its future products, covering electric driving, mobile internet, and man-machine interaction. This combination creates great opportunities for the development of the short-distance transportation industry.”

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