Neustadt-Glewe, Germany (CelebrityAccess) — German live events company DEAG Deutsche Entertainment Aktiengesellschaft snapped up a majority stake in the noted Mecklenburg-Vorpommern-based electronic music festival Airbeat One.
According to DEAG, the acquisition was part of their expansion plan as the company seeks to “play an active role in the consolidation of the live entertainment industry in Europe” and drive growth through M&A.
Airbeat, which debuted in 2002, has grown to become the lares EDM festival in Northern Germany, and one of the largest in Germany, attracting more than 60,000 fans a year, provided that year isn’t besmirched by a global pandemic.
Following the acquisition, Sebastian Eggert from festival founder Music Eggert, will become managing director of Airbeat One GmbH, the new venture behind the festival.
“We are all delighted about the partnership and the cooperation with Sebastian and the whole team, who have built up one of the biggest electro music festivals in Germany and inspire thousands of fans from all over the world every year. Airbeat One is an excellent addition to DEAG’s portfolio. With Airbeat One, we unite two of the most successful electro music festivals in Germany under one roof and are excellently positioned in this field with now a total of six electro music festivals with over 200,000 visitors annually. With the acquisition of Airbeat One, we have also created very good conditions for the further expansion of our business activities,” said I-Motion managing director Oliver Vordemvenne.
“We are all very pleased to have DEAG as a strong partner for the further development of Airbeat One. We share the same vision for the festival with a clear focus on the visitors and want to continue to offer them an exceptional customer experience in the future. We are strongly rooted in the region of Northern Germany and will stay here for the long term and drive our growth together with DEAG,” added Airbeat One boss Sebastian Eggert.
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