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01-12-2010, 10:29 AM | #1 | |
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Segway Merges with JWH Holdings (Segway UK)
Well, I received my stockholder letter yesterday. You know it's not good when it starts off with "Dear Former Stockholder of Segway Inc." It's dated 12 days ago, but was FedEx'd to me just yesterday.
JWH Holdings, Inc. turns out to be a holding company formed for just this transaction (incorporated in Delaware). But if you look up the contact address for notices in the agreement, you'll find that it appears to be the same address as Segway UK. So the upshot is that Segway UK purchased Segway Inc. My favorite line in the entire document appears on page 13: Quote:
Jim Norrod appears out as CEO. Tricia Laidler is the new CEO and Wayne Mitchell is the new COO. I hope this means a bright future for the remaining company. John
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01-12-2010, 11:25 AM | #2 | |
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01-13-2010, 09:14 AM | #3 | |
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Looking forward to an official announcement. How long will it be before it makes the news? I'm certain the timing is related, as Bob suggested, to the UK consultation taking place. These things don't happen overnight so the move has probably been in the pipeline for a while. Where does Dean Kamen sit in all of this? Does he still retain any ownership? Anyone know?
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01-13-2010, 12:01 PM | #4 |
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Maybe it is not the Segway Product that they were going after
If you look at Jimmy's bio, he is a mining guy. Mining folks don't want stand up Segways, what they want is robotic platforms that can do the work that humans can't.
So my take is he bought Inc. for the techonology, specifically the RMP side of the house. Which we as Segway users took very little notice of. Though a few of our friendly dealers were actively working with RMP customers. My take is RMP is the product, as well as the technology where the new company will focus its energy, and the PT will take a back seat, and it will not be long before it is discontinued. Stuff like the Puma will go over to GM and they have no interest in a stand up single user PT.
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01-13-2010, 12:36 PM | #5 | |
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My guess is it will probably be a few months before we see any serious changes, if any. It will take a while to "see what they have got" and make any changes they consider necessary.
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01-13-2010, 12:43 PM | #6 | |
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01-13-2010, 03:03 PM | #7 | |
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A guy like that
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As Nick stated his defense contracts are an important part of the equation. They would benefit from the RMP, as that is the prime market at the moment for the RMP. Inc. recently said they are focusing on their core PT market, which is commercial security and police use of the PT. I think we will see the consumer or leisure market become less of a focus to the company. The consumer is the one who wants to see the price drop. While the other markets will endure a higher price better. In the short run (1st quarter) as PT's, and the key parts to them are in short supply, it should be interesting to see what happens and how the existing dealers react.
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01-13-2010, 05:53 PM | #8 | |
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However, you are mistaken in thinking that only consumer/leisure markets want better pricing. Commercial and police markets perform cost analyses and compare Segs to other forms of transport. I think you naysayers are far too negative about the situation. Somebody bought Segway, Inc. This means the company was willing to be purchased. Generally, company management does not give up it's seat unless there is a good reason. Consequently, I conclude that being purchased is a good thing, and better than the alternative. What makes you think PT's and parts are in short supply? |
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01-13-2010, 09:57 PM | #9 |
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There may be something to the idea that the UK branch bought Segway for the RMP side. Today's Segway News ( published JUST today ) was all about the robotics platforms:
http://blog.segway.com/20100113spotl...e-way-774.html |
01-14-2010, 09:03 AM | #10 | |
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Could be but
Quote:
I know just because I'm not aware of something doesn't mean it is so (or not), but until we hear something official or some further examples/thoughts, I'll stick to my guns on this.
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