Bonnier Corporation has sold its digital assets of Motorcycle Group to Octane
Bonnier Corporation has sold its digital assets of Cycle World, Motorcyclist, Dirt Rider, Motorcycle Cruiser, UTV Driver, ATV Rider and Cycle Volta, to Octane, a fintech company founded in 2014 to better serve the lending needs of the powersports market.
Bonnier Corp. is an American enthusiast media publishing group, which incorporates 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 are 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.
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 and UTV Driver, 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. The firm 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 manufacturers and offers promotional financing with low rates for more than 40 brands.
One of Oaklins’ TMT teams in New York acted as the exclusive financial advisor to Bonnier Corporation in this transaction.
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