Octane Acquires the Motorcycle Group from Bonnier Corp.
NEW YORK, Sept. 14, 2020 /PRNewswire/ -- Octane, a Fintech company founded in 2014 to better serve the lending needs of the powersports market, today announced it has acquired the digital assets of Cycle World, Motorcyclist, Dirt Rider, Motorcycle Cruiser, UTV Driver, ATV Rider, and Cycle Volta from Bonnier Corp.
"We are acquiring these titles because we want to support brands that get people excited about powersports," said Jason Guss, CEO of Octane. "Our goal for this acquisition is to ensure that unbiased product reviews, rigorous and objective testing, and informed storytelling will continue to be available to powersports enthusiasts. When combined with Octane's financing platform and dealership partners, consumers will soon be able to go directly from researching their dream vehicle to owning it, in a fast, seamless process."
"Since acquiring Cycle World in 2011, Bonnier has invested in best-in-class motorcycle content across all media channels, and it is gratifying to see that Octane recognizes and values the consumer trust that these brands enjoy," said David Ritchie, CEO, Bonnier Corp. "We are encouraged by their commitment to content and look forward to seeing these brands continue to grow."
Bonnier Corp. will help produce Cycle World's final print issue in October 2020; existing print subscribers will receive a digital edition beginning in 2021.
Among the growing brands being acquired, 58-year-old Cycle World reaches more people now than ever. The brand engages more than 1 million consumers monthly, with more than 90 percent of those interactions occurring online. Octane will invest in digital content and website development to further solidify Cycle World's dominance in this space. Octane looks forward to welcoming Mark Hoyer, VP, Editorial Director of the brands, and his exceptional editorial team.
Octane's mission is to connect people with their passions. The powersports market (motorcycles, ATVs, UTVs, PWCs, snowmobiles) is fast and fun, but too many consumers find the financing experience that powers the majority of purchases to be slow and frustrating. Octane believes that buying a powersports vehicle should be as satisfying as owning one. In order to deliver instant financing offers, Octane developed an automated technology platform that offers prequalification for customers.
Octane is a Fintech company whose mission is to connect people with their passions. With a focus on the powersports market, Octane reaches riders through editorial brands such as Cycle World ( https://www.cycleworld.com/) and UTV Driver (https://www.utvdriver.com/), and helps consumers buy their favorite vehicles with instant, frictionless financing. On Octane.co, powersports shoppers can research vehicles, prequalify for a loan, and instantly check rates with no obligation and no impact to their credit. Octane connects customers with partnered dealerships, where they can complete their purchase with financing. Octane works with more than 3,500 dealers in the USA, provides financing coverage for most major powersports makes, and offers promotional financing with low rates for more than 40 brands.
About Bonnier Corp.:
Bonnier Corp. is an American enthusiast media publishing group, which includes more than 15 multichannel brands extending into all platforms, including magazines, digital media, events and product licensing. Bonnier Corp.'s iconic brands include Popular Science, Saveur, Field & Stream, Yachting, Flying, Sailing World, Salt Water Sportsman, Working Mother and Outdoor Life. Other business subsidiaries include Bonnier Events, a full-service promotion and events group, and Working Mother Media's diversity and inclusion consulting group. Bonnier Corp. is owned by Sweden-based Bonnier AB, a globally operating media conglomerate.
Brands and Websites Acquired by Octane:
Cycle World — https://www.cycleworld.com/
Motorcyclist — https://www.motorcyclistonline.com/
Dirt Rider — https://www.dirtrider.com/
Motorcycle Cruiser — https://www.motorcyclecruiser.com/
UTV Driver — https://www.utvdriver.com/
ATV Rider — https://www.atvrider.com/
Cycle Volta — https://www.cyclevolta.com/
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