SFX Entertainment Inc. (Nasdaq: SFXE) has acquired ID&T, a producer of dance music festivals and events, for $130 million.
The company previously announced that it would acquire a 75 percent interest in ID&T in March. The purchase price includes about $30.4 million in SFX common stock.
Amsterdam-based ID&T produces events in Europe and around the world, including 68 festivals. The most well-known events are Sensation, Mysteryland, Q-Dance and TomorrowLand.
SFX, headquartered in New York, made another acquisition in February, picking up Beatport, an online company that provides dance music downloads, mixes, live DJ performances and news.