NEW YORK (Hypebot) — SFX Entertainment is continuing its promised roll-up of major EDM properties with the acquisition of ID&T, the Amsterdam-based event producers of Sensation, an indoor house music festival held in 20 countries each year; and the Mysteryland festivals (60K in the Netherlands, 25K in Chile).
The deal follows a previously announced joint venture to bring ID&T events to North America.
SFX agreed to acquire 75% of the company, which is valued at approximately $130 million. "This is a hugely significant and strategically important acquisition for SFX,” said Robert F.X. Sillerman, Chairman and CEO of SFX Entertainment. “With ID&T, SFX has an immediate global footprint in more than 20 markets worldwide."
Sillerman spearheaded the original roll-up of global concert promoters into what is now known as Live Nation. Last year he pledged to do the same for EDM. Companies in the growing SFX portfolio include: ID&T; Beatport, a top online destination for DJ's and dance music fans; Disco Donnie Presents, an international promoter of hundreds of dance music events; Life In Color, a national dance music tour; and Miami Marketing Group, the promoter of nightclub events, LIV at the Fontainebleau Miami Beach, Story and Arkadia.