Universal Registration Document 2025

6.6 Notes to the consolidated financial statements

Note 3 Changes to consolidation scope

3.1 Acquisitions in financial year 2025

The main acquisitions of the period are:

in April 2025, 100% of Lotame Solutions, Inc., an independent specialist in data and digital identity solutions, acquired as part of Publicis Groupe’s artificial intelligence strategy;
in April 2025, 100% of BR Media, a Brazil-based influencer marketing company operating across Latin America, with a structured network of several hundred thousand creators in the region;
in May 2025, 100% of Captiv8, a global platform specializing in influencer marketing, enabling connections between brands, content creators and their audiences;
in September 2025, 100% of p-value Group, a US medical communications company, acquired to strengthen the network’s scientific expertise on therapeutic issues and product life-cycle management.

The goodwill relating to the Group’s main acquisitions since January 1, 2025 is determined as follows:

Acquisitions in financial year 2025
(in millions of euros)	Lotame	BR Media	Captiv8	p-value
Cash consideration	Cash consideration Lotame 122	Cash consideration BR Media 109	Cash consideration Captiv8 138	Cash consideration p-value 162
Earn-out consideration	Earn-out consideration Lotame –	Earn-out consideration BR Media 42	Earn-out consideration Captiv8 –	Earn-out consideration p-value 107
Total consideration transferred (A)	Total consideration transferred (A) Lotame 122	Total consideration transferred (A)BR Media151	Total consideration transferred (A) Captiv8 138	Total consideration transferred (A)p-value269
Technology	Technology Lotame 14	Technology BR Media–	Technology Captiv8 41	Technology p-value–
Customer relationship	Customer relationship Lotame –	Customer relationship BR Media 30	Customer relationship Captiv8 –	Customer relationship p-value 61
Deferred tax liabilities related to acquired intangible assets	Deferred tax liabilities related to acquired intangible assets Lotame (4)	Deferred tax liabilities related to acquired intangible assets BR Media (10)	Deferred tax liabilities related to acquired intangible assets Captiv8 (11)	Deferred tax liabilities related to acquired intangible assets p-value–
Other assets	Other assets Lotame 34	Other assets BR Media 27	Other assets Captiv8 49	Other assets p-value 27
Other liabilities	Other liabilities Lotame (18)	Other liabilities BR Media (16)	Other liabilities Captiv8 (41)	Other liabilities p-value (22)
Total identifiable net assets acquired (B)	Total identifiable net assets acquired (B) Lotame 26	Total identifiable net assets acquired (B)BR Media31	Total identifiable net assets acquired (B) Captiv8 38	Total identifiable net assets acquired (B)p-value 66
Goodwill (A - B)	Goodwill (A - B) Lotame 96	Goodwill (A - B)BR Media120	Goodwill (A - B) Captiv8 100	Goodwill (A - B)p-value203

Goodwill mainly relates to the know-how and technical skills of the acquired entities, as well as their ability to maintain and develop existing assets. The recognized goodwill are not tax-deductible, excepting p-value.

Intangible assets (technology and client relationships) are measured using one of the following two methods: the royalty method or the excess-earnings method. The royalty method considers the discounted estimated royalties payments that are expected to be avoided as a result the patent or trademark being owned. The excess earnings method considers the present value of net cash flows expected to be generated by the client relationships or technologies.