The CEO of Segway Inc. says the personal transportation device maker plans to stay in New Hampshire after being acquired by a Chinese firm.
Under the deal announced Tuesday, Segway will become a subsidiary of Beijing-based Ninebot, which also produces short-distance motorized transports. The two companies had been at odds as recently as November 2014, when Segway successfully petitioned the U.S. International Trade Commission to look into whether Chinese firms, including Ninebot, were infringing upon Segway's patents.
Segway president Rod Keller says the acquisition gives his company greater access to Chinese markets and resources, while bringing a wider range of transports - some at lower price points than Segway's traditional models - to U.S. consumers.
Financial terms of the deal weren’t disclosed, but Keller says Segway will continue operating under its brand name, stay headquartered in Bedford and keep its manufacturing base in the state.