NEW YORK (CelebrityAccess MediaWire) — Robert Sillerman's SFX Entertainment has acquired a majority stake in European ticketing services firm Paylogic in a deal estimated to be worth approximately $16.5 million.
Established 5 years ago, Paylogic now has offices in Amsterdam, Groningen, Berlin, and Antwerp, offering white label ticketing services to more than 2000 clients. The company has also launched operations in the U.S., providing ticketing services for the initial TomorrowWorld festival outside Atlanta as well as to other SFX-owned festival brands including Sensation, Mysteryland, Q-dance, Tomorrowland
Sensation, Mysteryland, Q-dance and Tomorrowland.
According to Paylogic, the company specializes in handling large peak sales as well as technical and data integrations with several online platforms and has sold more than 20 million tickets in their short 5 year existence.
"Paylogic has consistently proven its ability to handle unprecedented ticket requests," said Robert F.X. Sillerman of SFX Entertainment. "This kind of technical skill will be invaluable to us as we connect the millions and millions of EMC fans to the content and events they love, and to each other through integrated social media."
Paylogic is just one of a number of major acquisitions for SFX in recent months, financed by capital raised in the company's initial public stock offering and from private equity partners such as hedge fund Och-Ziff Capital. Other recent acquisitions include promoters i-Motion, Made Events, Disco Productions, Totem OneLove Group and IDT as well as web-based companies such as Beatport, Fame House, Tunezy And Arc90. – Staff Writers
