SFX acquires three startups to boost growth in core business
According to a TechCrunch report, live events and music content producer SFX Entertainment acquired three startups. SFX acquired Readability app maker Arc90, music commerce platform Tunezy and marketing agency Fame House. Financial details of the transactions were not disclosed. The acquisitions followed SFX's purchase of Beatport, an electronic music and culture online store, just early this year.
Chairman and CEO of SFX Entertainment Robert Sillerman said, "Arc90, Fame House and Tunezy are leaders in each of their fields and bring extraordinary talent to SFX. These deals are consistent with our commitment to bring (electronic music culture) fans around the world more of what they love, 365-days-a-year, and to be world-class in all our areas of focus."
The consolidation of Arc90 would have its founder Richard Ziade joining SFX as its chief product officer. Ziade is extremely excited for his company's offering to SFX's business growth plans.
"We're incredibly excited to contribute to the direction and stewardship of the digital experiences that will color so much of electronic music culture in the future. With SFX, we found a shared commitment to innovation and experimentation," Ziade said.
All three acquisitions would be finalized next month.