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SFX Enters Ticketing Business With $16.2 Million Acquisition of Europe's Paylogic

Thursday, January 2, 2014   (0 Comments)

Billboard (12/03/13) Peters, Mitchell

Electronic dance music promoter SFX Entertainment recently announced the acquisition of European ticketing company Paylogic. SFX will be acquiring a 75 percent controlling stake in Paylogic for $16.2 million. Paylogic has about 2,000 clients around the world and offices in Belgium, Germany, and the Netherlands. Paylogic has extensive dealings with another recent SFX acquisition, European events promoter ID&T, and SFX CEO Robert F.X. Sillerman says the decision to acquire Paylogic was influenced by its impressive performance providing exclusive ticketing for the TomorrowWorld music festival in September. TomorrowWorld was Paylogic's U.S. debut and Sillerman says SFX was impressed by the company's ability to handle the massive surges in ticketing the festival experienced. Sillerman says Paylogic will not immediately become SFX's principle ticketing solution as various SFX brands have existing deals with other firms, such as the multiyear contract between Disco Donnie Presents and Eventbrite. "That, of course will continue," Sillerman says. "But it seems logical, then, that over time Paylogic will be our principle, if not exclusive, ticketing solution."

 

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