Segway Inc. acquired by unnamed UK firm
updated 04:45 pm EST, Thu January 14, 2010
Segway taken over by unspecified UK company
Segway, maker of the two-wheeled, stand-up personal transportation vehicle, recently announced that it has been acquired by a UK-based company. This takeover is connected to a late December merger, though other details are scarce. Segway does reveal that the company that acquired it is backed by prominent UK businessman and chairman of Hesco Bastion, Jimi Heselden.
Heselden is also an investor in the company that owns distribution rights to Segway vehicles in the UK, which is also independently owned. As part of the takeover, Segway has received funding to encourage the growth of the company.
Despite early fears about the company not living up to extreme levels of early attention, Segway's sales have been growing steadily since the first models were produced in 2002, and sales are at an all-time high. The company currently offers seven models in the US. [via TheLastMile]
