SFX Entertainment Acquires 100% Ownership Of ID&T

(RTTNews) - SFX Entertainment Inc. (SFXE) announced Monday that it has acquired 100 percent ownership of ID&T, a producer of dance music festivals and events worldwide. Previously, SFX had announced intentions to buy a 75 percent interest in ID&T.

The deal also follows a previously established joint venture between SFX and ID&T, to bring ID&T events to North America.

Total consideration paid for ID&T and the ID&T joint venture was approximately $130 million, including about $30.4 million in shares of SFX common stock. The closing took place on October 18.

Based in Amsterdam, ID&T has produced events in Europe and around the world for more than 20 years, including 68 festivals and events worldwide in 2012.