Breaking: Beijing Company Ninebot Buys Segway for USD 80 Million

April 15, 2015 10:41 AM

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Wow. Favored vehicle maker among airport personnel and the Chinese security forces, Segway, is in the process of being acquired by Beijing-based Ninebot, which produces, well, other personal transport devices that look just like Segways. Doesn't matter, they're about to be USD 80 million richer, according to TechCrunch.

Ninebot is receiving financing from venture capital firm Sequoia Partners and USD 45 billion copycat company Xiaomi. Clearly we weren't the only people who thought Ninebot's Personal Transportation Robot looked a lot like Segway's x2 SE: Segway filed a complaint against Ninebot in 2014 alleging pate...

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