Electronic dance music (EDM) festival producer SFX Entertainment Inc. (Nasdaq: SFXE) is continuing a deal streak with the purchase of the producer of the Awakenings Festival.
SFX is buying Amsterdam-based Monumental Productions BV, which produces techno music events under the brand Awakenings. The event started at the Gashouder venue in Amsterdam in 1997 before moving outdoors to the Spaarnwoude recreation area in northern Holland. Terms of the deal were not disclosed.
SFX, headquartered in New York, produces EDM music festivals and provides EDM-centric digital entertainment content. The group has been scooping up music festivals and digital music properties for more than a year. In April, SFX picked up ticketing company Flavorus and React Presents, the producer of the Spring Awakening Music Festival and Summer Set Music & Camping Festival. In February, SFX bought a 50 percent stake in festival franchise Rock in Rio for about $62.3 million. Before that, in December, the company acquired Paylogic, a ticketing company in the Netherlands, for $22 million.
For more on the company's deal history, see SFX Spree Spotlights Fast-Growing Genre.