Electronic music giant ID&T acquired by Superstruct
Fresh news from the entertainment world. The electronic music giant ID&T was bought by Superstructure, according to a financial publication based in the Netherlands Het Financieele Dagblad. In the same post, it is further described that Superstruct Entertainment acquired ID&T from Axar Capital for a sum between 150 and 200 million dollars. Negotiations had started in 2019, but due to the pandemic the process had been delayed. Now, the purchase comes after the major industry crisis caused by COVID-19 and appears to be a real oxygen balloon for ID&T.
UK-based concert promoter Superstruck is the name behind some well-known brands in the field of live music events, such as Sziget, Elrow, Parookaville, Outdoor wacken, and Administrators. The press release announcing the partnership between the two companies did not include major financial details of the deal but reinforced that it is a strategy that greatly benefits both sides. You can also read this:
âID&T and Superstruct see great opportunities in sharing knowledge and creating synergies between companies to further improve the fan experience at their festivals. “
The close involvement of the founders and senior management of the ID&T group will not be called into question, since they will become shareholders of Superstruct Entertainment. The ID&T Group was founded in 1992 and today has on its menu major events such as Land of mysteries, Thunder dome, Defqon.1, Alarm clocks, and Milkshake. Q-dance, ID&T Events, B2S, Monumental (Alarm clocks), Dance art, Platinum Agency, and Headlining entertainment are the group’s subsidiaries.
About all this, Ritty van straalen, CEO of ID&T Group said:
âThe past 19 months have been very difficult for us and for the event industry as a whole, but we are delighted to see that Superstruct has been able to analyze the current environment, recognizing the combined potential of these two world-class companies. . (â¦) The international live events industry is consolidating more and more and Superstruct has grown into a high quality powerhouse and market leader in our industry. (â¦) We are happy to be part of such an experienced group and are convinced that we can strengthen each other in many ways. ‘
The two companies share this moment with great enthusiasm, certain that together they will continue to revolutionize and develop the world of entertainment. Roderik SchlÃ¶sser, Superstruct Entertainment CEO added that:
âWe are proud to welcome ID&T to the Superstruct family. The company is a pioneer and absolute leader in the live entertainment industry and is recognized worldwide for its high quality productions, creativity and differentiated abilities to engage with its fans. We are delighted to be working alongside their talented team.
President of Superstruct James barton stresses that this is a very important step for the company and an excellent opportunity for joint growth.
Image credit: Mysteryland