Aston Martin, the maker of James Bond's favorite car, was sold for a cool $848 million today by its American owner, The Ford Motor Company.

Aston Martins were not only the choice of fictional spy heroes but of racers such as Carroll Shelby, who piloted one to a World Championship in 1959.  Like Shelby, Aston Martin was embraced by Ford to help it tap into the value of automotive icons.

The 94 year-old Aston Martin brand was brought into the Ford family of automotive nameplates in1987 with an initial investment of $77 million.  The British car company once known for its refined good looks and gutsy performance had epitomized the best of British sports cars.

But, like many British car companies, it fell on hard times and was rescued by the investment and eventual total takeover by Ford.  Today, Aston Martin is once again a world-class exotic car, that last year was finally profitable, and ironically it's Ford that now needs financial help.

The number two American Car company reported losing $12.7 billion last year and as part of its restructuring put Aston Martin on the block six months ago.

Aston Martin will now be in the hands of a consortium comprised of David Richards, former British racing champion as well as the founder and chairman of Prodrive, a motorsport and automotive technology company; John Sinders, an American banker who's also an avid Aston Martin collector and a backer of Aston Martin Racing; and Investment Dar and Adeem Investment Co, international investment companies headquartered in Kuwait.  Aston Martin's current chairman and chief executive, Ulrich Bez, will remain with the company.

The sale, slated to close during the second quarter is expected to yield Ford £479 million ($925 million). As part of the deal, Ford will retain a £40 million ($77 million) investment in Aston Martin. "From Aston Martin's point of view, the sale will provide access to additional capital, which will allow Aston Martin to continue the growth it has experienced under Ford's stewardship," said Alan Mulally, Ford's President and chief executive officer.

Today's announcement will give The Ford Motor Company some much needed cash while keeping this revered, and now profitable, British icon alive.   With luck it won't take its cues from Hollywood's Bond film franchise and choose to "Die Another Day."