SFX Entertainment Inc. is buying a stake in ID&T, a producer of dance music festivals and other events, for $130 million.
SFX will own a 75 percent stake in the company.
ID&T’s events include house-music parties Sensation and Mysteryland, which take place in multiple cities.
The deal gives SFX access to more than 20 markets. In February, the company announced it was buying Beatport, an online company that provides dance music downloads, mixes, live DJ performances and news.The company, which operates live events, festivals, nightclubs and digital media, was established in 2012 by Robert Sillerman. SFX also owns the Disco Donnie Presents, Life in Color and LIV at the Fountainbleau events.
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