At the on going Amsterdam Dance Event 2013, ID&T CEO/Founder Duncan Stutterheim announced that the Dutch event company, which is known for having organized famous events and festivals for years, such as Sensation White and Tomorrowland, will now be owned 100% by SFX.

Stutterheim maintained that the merger does not mean the end of ID&T‘s events, and that they will still orchestrate the same shows, but rather than being two separate companies, SFX & ID&T will become one, with Stutterheim at the head office in Europe.

“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”, said Duncan Stutterheim.

When asked how Stutterheim was convinced that this was the right path for ID&T after declining a hundred million dollars for the company only a year prior, he stated, “As we continued to work together, at some point a list came up of the possibilities of what could be done if we sold the company. TomorrowWorld was an example of that. The festival cost 16 million dollars to put up. Those are amounts of money that we just don’t have. We are a big company, but we can’t invest that kind of money. So it was an opportunity for the company to grow”.

SFX, with bases in Los Angeles, New York, and other various cities, is an American company which specializes in musical festivals, live entertainment and nightclubs. It is learned that SFX head of acquisitions, Shelly Finkel, met with Stutterheim on Thursday to seal the deal and has 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.

With such big news coming in, we can only wait and see what more does the SFX team bring to the table.