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The Chinese robotics company Ninebot has bought Segway, a maker of two-wheeled electric vehicles, for an undisclosed sum. In 2014, Segway accused Ninebot and several other Chinese companies of infringing on its patents and sought an import ban on the Ninebot One. As Segway has struggled to make profits it has changed ownership; in 2009, it was sold to a group led by British millionaire Jimi Heselden, who died after riding a Segway off a cliff in 2010.
In a statement, the companies said that both brands would continue to operate under their existing names.
"It [the acquisition] 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 Ninebot chief executive Lufeng Gao.
(Score: 3, Interesting) by middlemen on Wednesday April 15 2015, @05:12PM
Embrace..extend..extinguish... the Ninebot One guys also copied Microsoft's strategy !
(Score: 5, Touché) by LoRdTAW on Wednesday April 15 2015, @05:59PM
Embrace - em·brace, əmˈbrās/
verb
A word that does not describe the publics interest in the segway.
(Score: 4, Interesting) by tibman on Wednesday April 15 2015, @06:02PM
Something like, embrace the segway, have owner take extended ride off cliff, extinguish his smoldering remains?
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(Score: 2) by kaszz on Thursday April 16 2015, @01:01AM
Infringe, Decimate profit, Loot! ;-)