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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsbusiness issueslegalindustry verticalsintellectual propertypatenttransportationSegwayXiaomiNinebot

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

Father’s Day Gift Guide

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?