Latest in Acquisition

Image credit:

Segway Inc. confirms merger with UK-based firm


Well, it looks like those initial rumblings about a big shake-up at Segway were right on the mark, as Segway Inc. has now come out and confirmed that it has been acquired by a UK-based firm backed by Hesco Bastion Chairman and Segway UK investor Jimi Heselden (previously reported to be JWH Holdings). Not surprisingly, it isn't offering much in the way of details, but it did say that it has also received funding that will "support the continued growth of the company." Head on past the break for the complete statement.

Segway Inc. is pleased to announce that in connection with a merger that occurred on December 24, 2009, Segway was acquired by a company that is based in the United Kingdom. The acquiring company is backed by Jimi Heselden, a prominent U.K. businessman and the Chairman of Hesco Bastion. Mr. Heselden is also an investor in the independently owned Segway U.K. distributorship.

Additionally, Segway also received funding that will be used to support the continued growth of the company.

From around the web

ear iconeye icontext filevr