Paris, July 7, 2025 – In a landmark move set to redefine the landscape of business process services (BPS), Capgemini (Euronext Paris: CAP) has announced the signing of a definitive agreement to acquire WNS (NYSE: WNS), a global digital-led BPS and transformation company headquartered in India, for $3.3 billion in cash. The acquisition positions Capgemini as a dominant force in Agentic AI-powered Intelligent Operations, further reinforcing its leadership in digital transformation and deepening its foothold in the lucrative U.S. market.
Under the terms of the agreement, Capgemini will purchase WNS at $76.50 per share, reflecting a 28% premium over the 90-day average trading price and a 17% premium over the July 3, 2025 closing price. The boards of both companies have unanimously approved the transaction, which is expected to close by the end of 2025, subject to shareholder and regulatory approvals.
Revolutionizing Business Process Services with Agentic AI
Agentic AI, a cutting-edge evolution of generative AI, enables autonomous decision-making systems that drive enhanced business outcomes. Through this acquisition, Capgemini aims to capitalize on a rapidly growing market segment by combining its robust consulting and AI capabilities with WNS’s domain-centric, digital-first operations.
“Enterprises are rapidly adopting generative and agentic AI to transform their operations end-to-end. Business Process Services will be the showcase for Agentic AI,” said Aiman Ezzat, CEO of Capgemini. “Capgemini’s acquisition of WNS will give us the scale, talent, and vertical expertise to lead this paradigm shift and deliver intelligent operations at speed and scale.”
The merged entity is expected to unlock significant revenue synergies between €100–140 million and achieve annual cost synergies of up to €70 million by 2027. The acquisition is projected to be 4% accretive to Capgemini’s normalized EPS by 2026, increasing to 7% by 2027 post-synergies.
Strategic Alignment and Shared Vision
WNS has built a strong reputation in the Digital BPS space with a focus on industry-specific solutions and AI-enabled platforms. For FY25, the company reported $1.27 billion in revenue and a healthy 18.7% operating margin, achieving 9% revenue growth annually over the past three fiscal years.
“Organizations that have already digitized are now reimagining their operating models by embedding AI at the core—shifting from automation to autonomy,” said Keshav R. Murugesh, CEO of WNS. “Joining forces with Capgemini allows us to accelerate this journey and co-create the future of intelligent operations, delivering next-gen, data-driven transformation across industries.”
The integration will bring immediate cross-selling opportunities and enhance Capgemini’s business services footprint, particularly in North America. WNS’ prestigious client portfolio—including names like United Airlines, M&T Bank, Aviva, Centrica, and McCain Foods—will also strengthen Capgemini’s global market presence.
“WNS and Capgemini share a bold, future-focused vision for Intelligent Operations. Capgemini is the ideal partner at the right time in WNS’ journey,” said Timothy L. Main, Chairman of the Board, of WNS. “This move will unlock tremendous value for clients, shareholders, and employees, expanding the reach and relevance of both companies.”
Building the World’s Most Advanced Intelligent Operations Platform
Capgemini has made substantial investments in AI, with €900 million in generative AI bookings in 2024 and active strategic partnerships with Microsoft, Google, AWS, Mistral AI, and NVIDIA. This acquisition boosts its capability to deliver consulting-led, end-to-end AI-powered operations at scale.
Both companies have been early pioneers of Intelligent Operations, combining domain knowledge, AI, cloud, analytics, and automation. The acquisition brings together:
- Capgemini’s strengths in consulting, cloud, and technology with
- WNS’s AI-enabled platforms and vertical-specific BPS capabilities were recently reinforced through the acquisition of Kipi.ai.
This synergy is designed to support clients looking to embed Agentic AI into their core processes, transitioning from labor-intensive operations to autonomy-led value creation.
Key Transaction Highlights
- Purchase Price: $76.50 per share
- Total Valuation: $3.3 billion
- Accretion: 4% EPS accretive in 2026, 7% post-synergies in 2027
- Revenue Synergies: €100–140 million by 2027
- Cost Synergies: €50–70 million annually by 2027
- Financing: Backed by €4.0 billion bridge facility, to be refinanced with a combination of debt and available cash
- Closing Timeline: Expected by the end of 2025
Cultural Fit and Seamless Integration
Capgemini and WNS both emphasize cultural compatibility and shared values, which are expected to ensure a smooth integration process. WNS’ 64,505 employees across 64 global delivery centers will join Capgemini’s 340,000-strong workforce operating in over 50 countries.
The integration will take place within Capgemini’s Global Business Services division, drawing from the group’s proven track record of executing successful mergers.
Outlook and Forward Strategy
Capgemini’s 2025 financial targets remain unchanged, with revenue growth forecasted between -2.0% and +2.0% at constant currency, an operating margin of 13.3%–13.5%, and an expected organic free cash flow of €1.9 billion.
The company will host two investor webcasts today to discuss the acquisition:
- 8:00 a.m. CET: Listen-only link
- 3:00 p.m. CET: Listen-only link
Replays will be available for one year.
About Capgemini
Capgemini is a global leader in business and technology transformation, with a workforce of 340,000 across more than 50 countries. In 2024, it reported €22.1 billion in global revenue and continues to be a trusted partner for organizations seeking sustainable digital innovation.
Website: www.capgemini.com
About WNS
WNS is a digital-led transformation and services company, delivering AI-powered solutions to over 600 clients globally. With expertise across industries and a workforce of over 64,000 professionals, WNS has emerged as a front-runner in the next wave of intelligent operations.
Media Contact:
Capgemini Investor Relations
https://investors.capgemini.com/en/
WNS Investor Relations
https://www.wns.com
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