The month of May 2025 was marked by a series of transfers of French tech companies, often little publicized, but revealing market trends. Health, AI, cybersecurity, responsible finance, targeted segments confirm a dynamic of consolidation carried by French industrial or technological actors.
A dense month, a clear signal
Eight French startups changed hands in May, all bought by buyers also based in France. The majority of operations concern B2B models, focused on software subscription or specialized services. This pace of transfers confirms the emergence of an active Mid-Market, in reverse of the sometimes frozen image of an ecosystem awaiting funding.
Among the notable operations, Hublo has doubled the bet by integrating two HR specialists for health establishments with Staffea (planning) and Permuteo (recruitment). A coherent movement to strengthen a complete vertical offer on a pressure market.
Local consolidation, targeted technologies
The group Septeo continues its exogenous growth, this time çi via its subsidiary RG System, which has absorbed Upsignonsovereign solution for password management, in a strategy to expand its cybersecurity portfolio. Photoroomone of the French leaders of the visual generated by IA, has acquired Generate Banners To automate advertising creation.
The acquisition strategy is not limited to technological groups. Malakoff Humanis rationalizes and has taken a majority participation In My little placementsavings platform intended to democratize the investment. This acquisition comes in a context of progressive rapprochement. In October 2023, Mutualist France, an institutional actor of savings, entered the capital of the startup. Since then, the two entities had initiated a commercial collaboration, my small placement distributing life insurance and PER contracts of mutualist France. These two products represented more than 50 % of the collection recorded by the startup in 2024. In April 2024, Malakoff Humanis had formalized its rapprochement with mutualist France, thus starting industrial convergence.
For his part, Dailymotion (Canal+group) got hold of Mojoapplication of creation of social videos by AI. The ambition is to expand its tools for creators and strengthen the competitiveness of its offer against streaming and content giants.
A national market
All buyers are French. No foreign player is among the buyers of this month of May. This configuration reflects the rise of a fabric of local buyers capable of integrating sharp solutions, with various maturity stages, without overpaying.
One of the rare public amounts concerns Osmosunspecialist in low carbon desalination, bought by Unibios For 1.6 million euros in cash, supplemented by a share of the capital of one of its subsidiaries. An operation with a strategic value in the water field, which also illustrates a reality, outings are not always spectacular, but they can meet specific industrial objectives.
