Octane Acquires ​the​ Motorcycle Group from Bonnier Corp.

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​ beg​ inning 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.
https://www.bonniercorp.com/octane-acquires-the-motorcycle-group-from-bonnier-corp/

Related Posts

Savvas Unveils Major Enhancements to its Award-Winning Savvas Realize Platform, Offering Time-Saving Features Designed with Educators in Mind

Inspired by input from its educator users, Savvas Learning Company is excited to announce that for back to school it has updated its award-winning Savvas Realize platform with powerful enhancements and a new user experience intended to save teachers time, freeing them up to focus more on classroom instruction with their students. Savvas Realize, recognized as one of the most innovative learning management systems (LMS) in the industry and the winner of seven edtech awards, has now been made even easier to use with intuitive navigation for both teachers and students and time-saving tools for teachers to make the most of their teaching day. These updates include a more streamlined interface with faster grading workflows, improved classroom management tools, and greater integration with the edtech tools that schools use most. “Teachers have a lot on their plates, especially this school year with trying to get their students caught up. They need an LMS that’s easy to navigate for them and their students — one that provides robust support for personalized learning and the right tools to make their jobs easier,” said Bethlam Forsa, CEO of Savvas Learning Company. “After a year-long collaboration with nearly 100 educators, our highly acclaimed Savvas Realize LMS has been updated with significant enhancements to provide greater simplicity, shareability, and interoperability — helping teachers be more productive in the classroom.”

The ODP Corporation Announces Second Quarter 2021 Results

Total reported sales for the second quarter of 2021 were $2.3 billion, an increase of 6% compared to the second quarter of 2020. The year-over-year increase in revenue was partially driven by stronger business activity as the public sector returned to work and schools began to return to in-class learning. Product sales in the second quarter were up 6% relative to the prior year period, driven by stronger demand for core supply product categories, workspaces and technology. Service revenue in the first quarter was up 8%, largely related to stronger demand for managed print and fulfillment, as well as copy and print services in both BSD and Retail Divisions. The Company reported operating loss of $78 million in the second quarter of 2021, compared to operating loss of $456 million in the prior year period. GAAP operating results in the second quarter included $122 million of charges including $115 million of non-cash asset impairment charges, and $7 million in net merger, restructuring and other operating costs. Asset impairment charges of $115 million in the second quarter of 2021 included $114 million related to impairment of goodwill and other intangible assets at CompuCom, largely related to the macroeconomic effects of COVID-19 on current business conditions. Net merger, restructuring and other operating costs of $7 million were primarily associated with the planned separation of B2B operations. Net loss was $88 million, or $(1.62) per diluted share in the second quarter of 2021, compared to net loss of $439 million, or $(8.19) per diluted share in the second quarter of 2020.

Ad Market Sees Uptick, Digital Rises 11%

The U.S. advertising market grew 3.8% in the second quarter of this year -- largely due to an 11% gain in digital media. Standard Media Index says this followed a 2.8% increase in the first quarter. National TV brought down the overall results. In the second quarter, national TV advertising revenue was virtually flat -- down 0.8%. This followed a weak 0.8% gain in the first quarter. These current results came amid higher-than-expected upfront advertising revenue commitments for next year’s TV season, starting in September. Upfront revenue growth is estimated at 4% to 6%. Click Read More below for more of the story.
Back To Top
×Close search
Search