On November 18, 2024, Outbrain notified the Autorité de la concurrence of its intention to acquire sole control of Teads, which is currently under the Altice group. This decision is notable as it marks the first time the Autorité has examined the non-search-related online advertising sector in a merger control context.

Outbrain specializes in content recommendation ads, primarily displayed at the bottom of web pages, which constitute the majority of its revenue. In contrast, Teads focuses on video and non-video ads aimed at brand recognition, typically shown in the middle of web pages. The Autorité's investigation concluded that the acquisition posed no risk to competition in the relevant markets.

The Autorité's analysis included the provision of non-search-related online advertising services and intermediation services for these ads. It emphasized the distinction between search-related and non-search-related advertising, applying a national scope for market delineation. The investigation revealed that the parties involved had limited market shares and that significant competitors remained in the market.

Furthermore, the Autorité found that the merger could potentially enhance competition by creating a stronger independent player capable of challenging major digital firms, thanks to the complementary nature of Outbrain's and Teads' services. Ultimately, the Autorité cleared the transaction without any conditions, affirming that it would not harm competition.