Capgemini to Acquire WNS in $3.3 Billion All-Cash Deal to Bolster Business Transformation Capabilities
Capgemini, the French business and technology transformation firm, announced on Monday (July 7, 2025) that it has signed a definitive agreement to acquire business transformation and services company WNS.
The deal, valued at $3.3 billion in total cash consideration, is aimed at enhancing Capgemini’s digital and AI-driven business process capabilities.
Deal Structure and Shareholder Benefits
Under the agreement, Capgemini will acquire U.S.-listed WNS at $76.50 per share. This represents a premium of 28% over the last 90-day average share price, 27% over the 30-day average, and 17% over the closing price on July 3, 2025.
The total value of the acquisition, excluding WNS’s net financial debt, stands at $3.3 billion.
The transaction, unanimously approved by the boards of both Capgemini and WNS, is expected to close by the end of the year.
Capgemini stated that the acquisition will be accretive to its normalised earnings per share (EPS) by 4% in 2026 before synergies and 7% in 2027 post synergies.
Strategic AI Expansion
Capgemini’s Chief Executive Officer Aiman Ezzat said, “Capgemini’s acquisition of WNS will provide the Group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS to Agentic AI-powered Intelligent Operations.”
He emphasised that the partnership would create a market leader in Intelligent Operations, combining consulting, technology, and platforms with deep industry and process expertise.
The move aligns with Capgemini’s strategy to support organisations in achieving AI-powered process transformation, efficiency, and agility through hyper-automation.
The company added that the acquisition will immediately unlock cross-selling opportunities and support the long-term development of capabilities to address the growing market demand in intelligent operations.
WNS’ Perspective on the Acquisition
Keshav R. Murugesh, Chief Executive Officer of WNS, highlighted the significance of the acquisition in the context of digital evolution.
“As a recognised leader in the Digital Business Process Services space, we see the next wave of transformation being driven by intelligent, domain-centric operations that unlock strategic value for our clients. Organisations that have already digitised are now seeking to reimagine their operating models by embedding AI at the core—shifting from automation to autonomy.”
He further said, “By combining our deep domain and process expertise with Capgemini’s global reach, cutting-edge Gen AI and Agentic AI capabilities, a robust partner ecosystem, and advanced technology platforms, we are creating a powerful proposition that accelerates enterprise reinvention.”
Combined Strength and Future Prospects
Capgemini noted that with combined revenues of €1.9 billion in 2024 from digital business process services, the acquisition will significantly enhance its ability to support global clients in their business and technology transformations.
The transaction is expected to deepen Capgemini’s expertise in multiple industry sectors and broaden its access to WNS’s long-standing client base, which includes prominent global brands such as United Airlines, Aviva, M&T Bank, Centrica, and McCain Foods.
The acquisition also underscores Capgemini’s broader commitment to leading the next generation of digital transformation initiatives, particularly those rooted in advanced AI technologies.
Outlook and Market Position
Capgemini’s acquisition of WNS is poised to reshape the digital BPS landscape by reinforcing its position as a global leader in intelligent operations.
The integration of AI at the core of operational strategies marks a shift from mere automation toward enterprise autonomy, aligning with evolving market demands.
As both companies move towards completing the transaction by the end of 2025, the combined strengths are expected to drive greater value for clients, investors, and the broader digital transformation ecosystem.
