SFX Agrees To Acquire ID&T, Leading Producer Of Dance Music Events Worldwide
March 21, 2013 at 5:52 AM (PT)
SFX ENTERTAINMENT has agreed to acquire ID&T, a producer of dance music festivals and events worldwide. The deal follows a previously announced joint venture between SFX and ID&T, which will 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 SFX Chairman/CEO ROBERT F.X. SILLERMAN. "With ID&T, SFX has an immediate global footprint in more than 20 markets worldwide. ID&T productions are known for being of the highest quality and for producing maximum entertainment for their fans. Their exceptional team has developed amazing dance music brands with tremendous global reach."