Dance event organiser ID&T goes American
Dutch dance event and festival organiser ID&T has been taken over by American company SFX Entertainment in a deal valuing the Dutch firm at $130m.
SFX is buying 75% of the shares in ID&T, which is known for events such as Sensation, Thunderdome and Mysteryland. The company was founded in 1992 and is active in 22 countries in Europe, plus the Americas, Asia and Australia.
‘The creative heart, which comes up with and develops the parties and festivals, will remain completely in Dutch hands,’ the company is quoted as saying by news agency ANP. ‘It will continue in Amsterdam with the name M-Design’.
ID&T rejected a $100m takeover offer last year, ANP said.
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