SFX Entertainment is at it again…
Last we heard SFX had purchased Totem OneLove, the company behind Stereosonic festival.
The latest pawn in their quest for EDM domination is i-Motion, Germany’s largest electronic music promoter.
i-Motion was acquired for $16 million in cash and $5 million in stock.
The promoter runs eight festivals in Germany, Poland, and Belarus. Festivals include Nature One, which draws a crowd of 65,000, and Ruhr-In-Love, which draws about 45,000 people. i-Motion also operates the Mayday festival, one of Germany’s oldest electronic music festivals.
SFX’s CEO and Chairman Robert F.X. Sillerman said:
“i-Motion is a key strategic acquisition for us, as it sits at the helm of dance music in Europe’s biggest country and is a portal to the fast-growing EMC markets of Continental Europe”.
The company will file earnings on Friday, November 22.
Image by DUP Photos, licensed under Creative Commons Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)