SFX Entertainment Officially Acquires Made Event, Creators of Electric Zoo, Plan to Take Electric Zoo International
SFX Entertainment have quickly thrust themselves into the EDM world becoming a powerhouse in all aspects of the electronic music business world. Having just gone public about a month ago, the owners of Beatport, ID&T (Tomorrowland, Sensation etc), and more, SFX has just announced the acquisition of Made Event. Made is the founding promotion company of Electric Zoo and one of the largest promoters in the New York City area.
"The acquisition of Made is strategically important for SFX, as it establishes a strong foothold for us in the New York City region,” said SFX Chairman and CEO Robert F.X. Sillerman. "We plan to develop the Electric Zoo brand internationally and have the opportunity to build other SFX brands in the U.S. with the support of Mike (Bindra), Laura (De Palma) and the team at Made."
SFX Entertainment had previously announced they would be acquiring only 70% of Made Event with 30% to be purchased in 2018. However, under the deal announced today SFX has acquired all of Made Event. The original term sheet with Made Event for SFX's acquisition of Made had SFX paying $35 million for 70% of the company. It can be speculated that the purchase announced today was in the ballpark of $50 million.