Joe GallopPan-European promoter, venue operator and ticketing conglomerate Deutsche Entertainment AG (DEAG) has increased its share in I-Motion GmbH Events & Communication (I-Motion) from 50.1% to 100%.
DEAG has held a stake in German EDM promoter I-Motion since 2019. The remaining shares in the amount of 49.9% were acquired from the previous US joint venture partner Livestyle, Inc.
I-Motion, which was founded in 1994, draws around 250,000 visitors to its EDM festivals each year. Its portfolio includes German festivals Nature One, Mayday (pictured), Toxicator, Ruhr in Love and Syndicate.
Other events promoted by I-Motion include the Christmas Garden Koblenz in the Ehrenbreitstein Fortress, which attracts around 100,000 visitors each year. The promoter is also active in the field of entertainment services, including security, catering and marketing concepts as well as personnel and security services.
DEAG said it plans to drive its growth through M&A, with a focus on acquisitions in ticketing as well as expanding into other European markets and in “further business segments”.
DEAG co-CEO Detlef Kornett said, “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.”