Back in October 2013, SFX initially acquired 50 percent of B2S, an international event organizer specializing in the harder side of electronic dance music. It was announced today that SFX has completed the acquisition of the remaining 50 percent of B2S and now owns 100 percent of the company.
It is reported that SFX paid B2S $14.3 million in cash and issued 400,000 shares of SFX common stock at closing. This deal gives SFX total ownership of the international event organizer and adds Decibel, Hard Bass, Thrillogy, Knock Out, and Loudness to their event catalog.
SFX continues to be the largest global producer of live electronic dance music events and has a growing portfolio, including Tomorrowland, TomorrowWorld, Mysteryland, Sensation, Stereosonic, Electric Zoo, Disco Donnie Presents, Life in Color, Rock in Rio, Nature One, Mayday and Ruhr-in-Love and has an agreement to acquire Spring Awakening Music Festival and Summer Set Music & Camping Festival.
[H/T: Wall Street Journal]
Photo credit nasdaq.com