Lollapalooza, the massive U.S.-based music festival, will be coming to Tel Aviv in the summer of 2013, the show's producers announced on Sunday, with dozens of international acts expected to take part.

Expected to take place August 20-22, the festival's arrival was announced in a press conference in Chicago, the show's home for the last several years. Its slated Tel Aviv date would make Israel only the third country visited by the three-day extravaganza, following Chile and Brazil.

The festival has been a perennial draw for big-time names in alternative, rock, hip hop, and electronic music, with performers such as Coldplay, Kanye West, Flaming Lips, deadmau5, Muse, the Flaming Lips.

Lollapalooza was founded in Chicago in 1991 by Jane's Addiction frontman Perry Farrell, who performed with his band in Israel last year.

Speaking at the press conference, Farrell said that as "a musician, I really missed the days when we were on the move. In the last few years we've widened our scope, presenting Lolla to the 'festival generation' around the world. Next stop- Tel Aviv."

In a statement, Marc Geiger of WME Entertainment said that "Israel is an incredibly sophisticated music market," Marc Geiger of WME Entertainment said in a statement. "Consumers have a voracious appetite for entertainment, yet there has never been a major music festival. To me, this combination screams Lollapalooza."

Ilan Elkayam, of Plug Productions, who will be producing the Tel Aviv show, said that the festival's arrival was "a watershed event, that will change the face of musical culture in Israel."

"We’re happy to join the Lollapalooza family, and will work to have the festival accompany us for years, as is customary in the world," Elkayam added.