ID&T announces 100 percent sale to SFX; CEO Duncan Stutterheim will head European office
On Thursday, the 2013 Amsterdam Dance Event held a highly anticipated Q&A session with SFX head of acquisitions Shelly Finkel and ID&T CEO/Founder Duncan Stutterheim where they announced SFX’s 100-percent ownership of the Dutch event production company. On SFX’s first SEC filing, it was revealed that a majority stake (75-percent) was owned by the American corporation.
“We finalized the deal an hour ago, instead of the previous 75-percent, ID&T is now going to be 100-percent owned by SFX. Now it’s very clear, I work for SFX. I will be working at head office in Europe, and we’re going to still create the same shows. But from this point, ID&T and SFX will be together.” – Duncan Stutterheim
Last year, Duncan reported that he turned down a 100 million dollar offer from an American investor, however, was convinced that SFX was the right home for ID&T to expand into the global market. Finkel also hinted at the potential acquisition of a ticketing platform as well as a new digital strategy that will expand Beatport’s digital content platform.