SFX continues global buy-up with purchase of i-Motion

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  • Robert Sillerman's company has bought the German promoter for $16 million.
  • SFX continues global buy-up with purchase of i-Motion image
  • SFX Entertainment has purchased German festival promoter i-Motion for $16 million. The acquisition is the latest step in the rapid global expansion of SFX's empire in 2013. In addition to buying electronic music download store Beatport earlier this year, SFX also bought US promoters Made Event, planned its first foray into the Australian market and raised $260 million through its initial public offering. According to Billboard, the purchase of i-Motion has cost SFX $16 million in cash and $5 million in stock. i-Motion was founded in 1994 and hosts large-scale events across Europe. It currently has eight festivals on its roster, including the annual Nature One event in Frankfurt. In a statement, SFX CEO Robert Sillerman described the purchase as a "key strategic acquisition." He added: "i-Motion ... sits at the helm of dance music in Europe’s biggest country and is a portal to the fast-growing EMC [electronic music community] markets of Continental Europe."
RA