SFX Acquires German Promotions Company i-Motion For $21 Mil

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SFX Acquires German Promotions Company i-Motion For $21 Mil

The Gordon Gecko of the EDM circuit,  Robert Sillerman’s SFX Entertainment made another lucrative festival acquisition announcing the company purchase of major German Promotions company i-Motion for $21 million ($16 million in cash and $5 million in stock). The agency established in 1994 is behind eight major festivals in Germany, Poland and Belarus including Nature One, May Day Festival and Ruhr-In-Love among others.

“We are excited to join forces with SFX. It is rewarding to see the electronic music scene develop as it has. After almost 20 years as a part of the scene, it is the logical next step and is a great opportunity for our company. The electronic music culture has always been ahead of the curve, and to combine it with the digital world is a smart move into the future.” Oliver Vordemvenne, CEO of i-Motion

This latest acquisition joins a further growing portfolio of what they call ‘electronic music culture’ investments including Beatport, ID&T (Sensation, TomorrowWorld and Mysteryland), Australian’s own Stereosonic Festival and most recently New York’s Electric Zoo among others. All signs show Sillerman is not slowing down his spending spree after collecting an estimated $260 million raised during the company’s recent IPO, it looks like the entrepreneur is just getting started.

This investment into a long running European Festival agency surely won’t be the last addition to SFX’s style of EMC on an industrial scale, its a positive move seeing a step towards something richer than just moving bottles in DJ land on the corporate side, that said conglomerate media structure is always an ambiguous beast. Will creativity be sacrificed for collective gain as SFX further holds the market in its arms (or closes its fist?), or will the company encourage the further evolution of EMC as a major investor?

Source – Billboard


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