Audi has officially announced plans to purchase Ducati from the Investindustrial Group.

Audi has officially announced plans to purchase Ducati from the Investindustrial Group.

The terms of the agreement were not released, but Audi is confident the transaction will be completed "as quickly as possible" once approved by government authorities.

In a statement, Audi Chairman 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. That makes Ducati an excellent fit for Audi."

It remains unclear how Audi intends to use Ducati, but the company said the brand's extensive knowledge of lightweight construction and progressive control systems offer great potential.

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Audi announces plans to buy Ducati