Calling it a “strategic realignment” for BMW Motorrad, the BMW Group has confirmed the rumors and sold Husqvarna Motorcycles to Pierer Industrie AG, the holding company of KTM CEO Stefan Pierer. Saying the parties would not disclose the terms or purchase price of the transaction, the press release from BMW Motorrad was surprisingly light on any actual information.

Touting BMW’s commitment to urban mobility and electric vehicles, the German company will now focus solely on the BMW Motorrad brand. With reports saying that BMW Motorrad will not venture back into the dirt bike market, the company will maintain its on-road focus for the foreseeable future.