The provisional allocation of the consideration transferred broke down as follows at December 31, 2019:
(in millions of euros) | Epsilon |
|---|---|
Consideration transferred (A) | Consideration transferred (A) Epsilon 3,912 |
Non-current assets | Non-current assets Epsilon 318 |
Current assets excluding cash and cash equivalents | Current assets excluding cash and cash equivalents Epsilon 482 |
Cash and cash equivalents | Cash and cash equivalents Epsilon 37 |
Total assets (B) | Total assets (B) Epsilon 837 |
Non-current liabilities | Non-current liabilities Epsilon 153 |
Current liabilities | Current liabilities Epsilon 161 |
Total liabilities (C) | Total liabilities (C) Epsilon 314 |
Net assets acquired before fair value adjustment(1) (D = B - C) | Net assets acquired before fair value adjustment(1) (D = B - C) Epsilon 523 |
Client relationships | Client relationships Epsilon 499 |
Technological applications | Technological applications Epsilon 499 |
Total intangible assets | Total intangible assets Epsilon 998 |
Total fair value adjustments (E) | Total fair value adjustments (E) Epsilon 998 |
Net assets acquired after fair value adjustments (F = D + E) | Net assets acquired after fair value adjustments (F = D + E) Epsilon 1,520 |
Goodwill (G = A - F) | Goodwill (G = A - F) Epsilon 2,392 |
(1) Excluding goodwill and intangible assets from prior acquisitions.
The euro 2,392 million in provisional residual goodwill includes:
Epsilon’s revenue since the date of the acquisition has contributed euro 977 million to Groupe consolidated net revenue for the 2019 financial year. The contribution to net income attributable to equity holders of the parent company for the 2019 financial year was euro 166 million. Groupe revenue would have been euro 11,894 million and net income attributable to equity holders of the parent company euro 868 million had the acquisition been finalized as of January 1, 2019.
The Epsilon acquisition costs were recognized under other operating costs and totaled euro 40 million at December 31, 2019.
The other acquisitions during financial year 2019 were not material (either individually or taken as a whole). The main ones were:
The fair value, at the acquisition date, of the consideration paid (excluding cash and cash equivalents acquired) of all entities that were fully consolidated (notably including the ones detailed above, as well as smaller acquisitions) with an exclusive takeover during the period, totaled euro 4,245 million. This amount mainly includes:
The amount paid in 2019 for acquisitions (net of cash and cash equivalents acquired) totaled euro 4,144 million and included:
The acquisitions over the period, excluding Epsilon, represented less than 2% of consolidated net revenue in financial year 2019 and less than 3% of net income attributable to equity holders of the parent.
The Groupe completed the disposal of Matomy Media Groupe, in which it held a 24.9% interest (under the equity method) during financial year 2020.
In 2019, the Groupe disposed of Relaxnews, retaining an interest of 12.5% in Financière Relaxnews. The disposals of Publicis Health Solutions and the Proximedia operations took place in first-half 2019.
The companies disposed of in 2019 contributed less than 1% to 2019 consolidated net revenue and 1% to 2019 net income attributable to equity holders of the parent.
