Chinese Company Buys Segway, Inc.

by Eric SnyderNashville Business Journal

Two years after it was bought by Brentwood-based Summit Strategic Investments, Segway Inc. has been sold to a Chinese competitor.

Terms of the deal with Chinese startup NInebot were not released.

“It has also been widely mocked in American popular culture as an emblem of sloth,” The Times writes. “But in China, a country that often embraces novel and niche gadgets, the Segway is taken more seriously, and over the years it has gained cultural cachet.”

Summit Strategic Investments bought Segway after its previous owner, Jim Heselden, died when he drove a Segway off a cliff near London. After the sale, the company’s operations remained in Bedford, New Hampshire.

The Nashville Business Journal last spoke with Summit CEO Roger Brown in April 2014.

“It’s an acquisition we’re extremely proud of,” he said then.

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