Live music giant Deutsche Entertainment Aktiengesellschaft (DEAG) has acquired a majority interest in I-Motion, the German operating unit of LiveStyle.
I-Motion, which was snapped by LiveStyle precursor SFX Entertainment in 2013, has organised electronic music events for more than 25 years, presenting events such as Mayday, Nature One and Ruhr In Love.
Prof Peter Schwenkow, CEO of DEAG, said: “The partnership with I-Motion and LiveStyle offers us further potential for our ticketing business. Through the targeted introduction of individual events abroad, we will also have the opportunity to grow internationally. For example, by offering the established and very successful electronic event ‘Mayday’ again in Poland, the UK and Switzerland in the future.”
Randy Phillips, president and CEO, added: “Many years ago I had the pleasure of negotiating the purchase of MAMA Concerts & Rau by DEAG. In the course of closing that transaction, I got to know Peter Schwenkow, the CEO and Founder of DEAG, quite well and was very impressed by his love of music, business acumen and vision for DEAG. It seems I was right then and am right now. In addition, Detlef Kornett, of DEAG, and I were colleagues for many years at AEG and I am thrilled to be re-united with my friend. The key execs at I-Motion feel that DEAG is a great fit for them and I know it will be a great partner for LiveStyle in Germany.”
Chuck Ciongoli, EVP and CFO of LiveStyle, added: “In recent years, I-Motion has shown, above all by planning, organising and carrying out its own projects, that our German subsidiary always knows how to set new accents in the field of events and entertainment and profits from our international network. With DEAG, we now have a strong partner at our side who can look back on a wealth of experience in this market. We are convinced that both sides will benefit from our new relationship and are looking forward to a long-term partnership.”
DEAG promotes around 4,000 concerts and events a year and is the parent company of the UK's Kilimanjaro Live.
