On One, the Mountain Bike Division of British bike maker and direct seller Planet X Ltd, acquired Nov. 23 the brand, trade marks and assets of Titus Bikes Inc of Tempe, AZ at a public auction from its creditor Factor Southwest.
Factors Southwest had foreclosed on Titus Nov. 9 for failure to pay its bills.
The Titus acquisition complements the On One range, with the addition of high quality full suspension models. By leveraging our experience in carbon and titanium bike development we intend to build on the already strong Titus range.
In addition the Titus brand and loyal customers will provide a boost to On One’s planned expansion into the US in 2011. In the United States, Planet X currently distributes bikes, frames and components direct to consumers via the web through its Planet-X-USA LLC unit in Pennsylvania.
