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: 0) by Anonymous Coward on Thursday April 16 2015, @01:10AM
This may have worked because it was Chinese.
If an American company had stolen Segway's designs, Segway could have extracted money from it in the courts.
Chinese companies can steal whatever they want with no consequences.
Therefore Ninebot can earn enough profit off stolen designs to position itself to own Segway.
Is the opposite true?