Ninebot acquires Segway, same same yet different
With the coming together of personal electronic transportation and short-distance transportation, the combined company is focused on research and development, manufacturing, sales and service in short-distance transportation industry.
The new entity is keen on rapid development of short-distance transportation industry and mobile robotics solutions. Ninebot and Segway continue to operate under existing brand names. Lufeng Gao, founder and Chief Executive Officer of Ninebot says the collaboration is a momentous for Ninebot and Segway. It creates development opportunity for the short-distance transportation industry. The combined company will cater through tech applications like electric driving, mobile internet and human-computer interaction. The joining of forces will boost development and spur growth in mobile robotics platform industry. A combined effort will result in more convenient and greener solutions.
Rod Keller, President of Segway says Ninebot and Segway will cooperate closely with each other on technology and marketing to benefit research and development, manufacturing, marketing and sales capabilities. Both companies will work together to offer more intelligent and valuable
products. He is confident of the company’s future. Segway is now a wholly-owned subsidiary of Ninebot.
The strategic alliance isn’t what many would have anticipated. Back in September, Segway accused Ninebot of copying its signature two-wheeler. Segway also accused other companies of duplicating their product. Xiaomi, Sequoia Capital and two other firms invested US$80 million in the crowdfunded Ninebot this month, and the funding has been used to move into Segway. The purchase deal includes all of Segway’s assets, including patents. No financial details have been revealed.