Yes, it will, but KTM will be a badge, the bikes will be Bajaj machines, the V-Twins may die out, but I hope they will see a market in keeping parts going for a while yet, and the aftermarket will probably take up some of the slack.
Some will be surprised to learn KTM had been badly managed and had too many chiefs and not enough Indians - funny turn of phrase I suppose and the Indians now own it., although not the same Indains referenced in the old saying, which I am probably not allowed to say in this day and age?