According to Triumph, the deal allows both companies to share their expertise and grow internationally together.
OSET was established in 2004 by Ian Smith, who wanted to build an electric dirt bike for his son, Oliver.
After moving to a new UK headquarters in East Sussex from America in 2010, OSET has sold more than 40,000 bikes globally by developing an in-house electric powertrain.
Meanwhile, the latest acquisition by Triumph comes just ahead of the anticipated launch of the company’s motocross and enduro range.
“The acquisition of OSET sits within Triumph’s strategy of entering the off-road segment.
“We are excited about the opportunity of joining forces with OSET Bikes: a dynamic brand that has been encouraging children into motorcycling for many years and have been at the forefront of developing electric trials bikes for fun and competition,” said Nick Bloor, Triumph CEO.
Meanwhile, Smith has assured that the OSET brand will remain as it is despite the acquisition by Triumph.
“The OSET brand will remain as OSET and will continue to serve the trials and off-road motorcycling community.
“We are now better positioned to develop and innovate across our range while enjoying the security of scale and market position Triumph can offer OSET,” he said.