SFX Entertainment Inc. (Nasdaq: SFXE) is scooping up another asset – festival producer Totem OneLove Group Pty Ltd.
Totem OneLove promotes and produces Australian electronic music festival Stereosonic. The Melbourne-based company produces Stereosonic in five cities, and has sold 280,000 tickets to the 2013 shows, which will be held in November and December. Terms of the deal were not disclosed.
The deal allows SFX to expand into the southeast Asia market.