Segway bought by a competitor from China

The American company Segway acquired its Chinese competitor Ninebot. Unfortunately, the amount of the transaction is not disclosed. However, some time before the deal, Ninebot received $ 80 million from the Shunwei Foundation, Sequoia Capital and Xiaomi investment funds, according to Techcrunch.



It is worth noting that the company Segway is sold for the third time. The first time it was bought by an English company in 2010. After the head of the company, a British businessman James Heselden, died in an accident, Segway bought the Summit Strategic Investments investment fund.



A few months before the deal, Segway accused Ninebot of illegally using technology companies that are protected by a number of patents. In response, representatives of Ninebot said that the developers of the company created their own vehicle independently of the Segway, and Ninebot offers quality electric scooters at a price much lower than the Segway.

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Now representatives of both companies said they are pleased with the new union. The deal, according to the head of Segway, will allow the market to release more modern devices with advanced functionality.