Neustadt-Glewe, Germany (CelebrityAccess) – German live events company DEAG Deutsche Entertainment Aktiengesellschaft has acquired a majority stake in the renowned electronic music festival Airbeat One from Mecklenburg-West Pomerania.
According to DEAG, the acquisition was part of their expansion plan as the company aims to “play an active role in the consolidation of the live entertainment industry in Europe” and drive growth through mergers and acquisitions.
Airbeat, which debuted in 2002, has grown into the largest EDM festival in Northern Germany and one of the largest in Germany, attracting more than 60,000 fans annually, assuming this year is not hit by a global pandemic.
After the takeover, Sebastian Eggert from festival founder Music Eggert becomes managing director of Airbeat One GmbH, the new venture behind the festival.
“We are all very happy about the partnership and the cooperation with Sebastian and the entire team, who have built up one of the largest 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 electronic music festivals in Germany under one roof and, with a total of six electronic music festivals with over 200,000 visitors a year, we are excellently positioned in this area. With the takeover of Airbeat One, we have also created very good conditions for the further expansion of our business activities,” says I-Motion Managing Director Oliver Vordemvenne.
“We are all very happy 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 deeply rooted in the region of northern Germany and will stay here in the long term and drive our growth together with DEAG,” adds Airbeat One boss Sebastian Eggert.
