DEAG Deutsche Entertainment AG (DEAG) has increased its share in electronic dance music promoter, I-Motion, from 50.1% to 100%.
The entertainment group has acquired the remaining shares from previous US joint venture partner, Livestyle. The move forms part of DEAG’s expansion strategy, and will incorporate open-air events and build on its own high-margin event formats.
Berlin-headquartered DEAG has held a stake in I-Motion since 2019, with the promoter boasting a portfolio of electronic dance festivals such as ‘Nature One’, ‘Mayday’, ‘Toxicator’, ‘Ruhr-in-Love’ and ‘Syndicate’, which attracted roughly 20,000 to Dortmund’s Westfalenhallen earlier this month.
Across its entire electronic music festival roster, I-Motion attracts around 250,000 visitors each year.
I-Motion is headquartered in Mülheim-Kärlich, Germany and also works on events such as the Christmas Garden Koblenz in the Ehrenbreitstein Fortress, which draws roughly 100,000 guests. The promoter offers entertainment services including security, catering and marketing concepts.
“The cooperation with I-Motion has developed very positively since 2019. Our expectations have been more than fulfilled, both strategically and economically, so that the acquisition of all shares in one of Europe’s most successful EDM event promoters is now the logical next step for us,” said co-chief executive of DEAG, Detlef Kornett.
“Together with the long-standing Managing Director of I-Motion, Oliver Vordemvenne, and his great team, we have steadily expanded our open-air and EDM events in recent years and see high potential for expansion in this area, also in other European countries. I am very much looking forward to the continued successful and trustful cooperation with Oliver and the I-Motion team as part of the DEAG family.”
Oliver Vordemvenne, managing director of I-Motion, added: “We are very pleased that we are now fully part of the DEAG family and will continue to write our success story. Together with a strong team, we want to further develop our event formats and expand into new markets. We still have a lot of plans for the future.”