M&A activity in Q2 2025 reflected a more selective and strategic market, with deal volumes softening slightly (348 vs 394 in Q1). Despite ongoing macro uncertainty, buyer appetite for high-quality, tech-enabled assets in media and tech remains strong.
While buyer group activity dipped, deals showed a clear shift toward strategic alignment over volume, especially in verticals like experiential and healthcare tech.
Notable deals from the quarter included Publicis Groupe’s £110m acquisition of AI-powered platform Captiv8, and MSQ’s acquisition of The Forge, as key acquirers continue to seek opportunities to bolster their strategy and insights capabilities to drive engagement and impactful brand experiences.

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