Aston Martin announced on Thursday that it has entered into a “technical partnership” with Mercedes-Benz’ high-performance AMG division. The official announcement follows months of rumors speculating the two companies were working toward some kind of powertrain partnership.

According to Aston Martin, the deal will allow the British automaker to “access significant Mercedes-AMG GmbH and Mercedes-Benz Cars’ resources.” Specifically, the partnership will focus on V8 engine development and give Aston Martin access to some of Mercedes’ electronic components.The release made no mention of V12 engine development.

Mercedes-Benz will receive a 5 percent stake in Aston Martin for its efforts.

“We have selected AMG specifically as the basis for this powertrain development process,” Aston Martin Product Development Director Ian Minards said. “Aston Martin sources cutting edge technology from key suppliers around the globe and the opportunity to include content from Mercedes-AMG GmbH in our next generation sports cars is, clearly, good news.”

He added: “Working with Mercedes-AMG in this way while, of course, remaining independent and preserving the unique character and style of Aston Martin that has been the mainstay of the company throughout its 100-year history, points to a very bright future for the company as it starts its second century in business.”

Both sides signed a letter of intent to secure the groundwork for the partnership, with a more definitive agreement expected by year’s end.