i-Motion, the long-established German dance event promoter founded in 1994, has been acquired by Robert Sillerman's SFX Entertainment for $16 million in cash and $5 million in stock. The acquisition was already known to be in the works as early as this summer, when SFX was still planning the IPO it held in early October.
i-Motion operates eight festivals in Germany, Poland and Belarus. Most notable among them would be Nature One, begun in 1995, which draws about 65,000 to a converted missile base in Frankfurt. Second is the semi-historic Mayday festival, one of the oldest dance music festivals in Germany and which draws around 25,000 to the city of Dortmund. i-Motion's Ruhr-In-Love event draws about 45,000 to Olga Park in Oberhausen.
i-Motion lists 20 media partners, including MTV and Radio1LIVE, and 23 brand sponsors, including Coca-Cola and Philip Morris, on its website. It also says to have 20 full-time and 10 freelance employees.
As Sillerman points out, the purchase gives SFX entree into Europe's largest economy, and one of its most dance-associated as well. “i-Motion is a key strategic acquisition for us, as it sits at the helm of dance music in Europe’s biggest country and is a portal to the fast-growing EMC markets of Continental Europe,” said Sillerman in a statement.
Oliver Vordemvenne, CEO of i-Motion, said in a statement that they "are excited to join forces with SFX. It is rewarding to see the electronic music scene develop as it has. After almost 20 years as a part of the scene, it is the logical next step and is a great opportunity for our company. The electronic music culture has always been ahead of the curve, and to combine it with the digital world is a smart move into the future."