SFX Entertainment Inc. (Nasdaq: SFXE) has continued its acquisition streak with the $22 million purchase of a stake in Paylogic.
Paylogic, headquartered in Amsterdam, is a ticketing company that also operates in Groningen, the Netherlands, Berlin and Antwerp, Belgium. The company specializes in handling large sales and technical integration with websites.
Paylogic recently began operating in the U.S., handling ticketing for the initial TomorrowWorld festival near Atlanta. SFX owns the TomorrowWorld festival. The company has handled ticketing for several SFX-owned electronic dance music (EDM) festivals, including Sensation, Mysteryland, Q-dance and Tomorrowland.
SFX bought a 75 percent stake in the company.
This is just one of many deals SFX has made in 2013. In October, the company bought festival producer Totem OneLove Group Pty Ltd., which produces EDM festivals in Australia. Also in October, the company announced deals for Arc90, a product design group, Fame House, a digital marketing agency, and Tunezy, an e-commerce service. SFX in October closed a $130 million deal for ID&T, a producer of EDM festivals. Before that, in February, SFX bought Beatport, a company that provides dance music downloads and live DJ performances.
For more on the company, see “SFX Spree Spotlights Fast-Growing Genre.”