German carmaker Audi has acquired Italians motorcycle maker Ducati Motor for about EUR860m ($1.128bn).
The company said that the transaction, which will add a 12th brand to the carmaker's portfolio of passenger cars, trucks and ultra-luxury vehicles, will be concluded as soon as possible following the regulatory approval.
Ducati, which has production at its headquarters in Italy, and a plant in Thailand, will be the third pillar for the German carmaker in northern Italy, alongside Lamborghini and Italdesign.
Audi chairman of the board of management Rupert Stadler said Ducati is known worldwide as a premium brand among motorcycle manufacturers and has a long tradition of building sporty motorcycles.
"It has great expertise in high-performance engines and lightweight construction, and is one of the world's most profitable motorcycle manufacturers," Stadler said.
"That makes Ducati an excellent fit for Audi."
Last year, Ducati had sold about 42,000 motorcycles and generated about EUR480m ($629.8m) in revenue marking a 43% year-over-year motorcycle sales rise.
Its range includes cruiser, supermoto, adventure, naked and superbikes comprise Diavel and dual sport Hypermotard.
Volkswagen is also planning to acquire the remaining 50.1% of sports-car maker Porsche.
