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Capgemini Acquires WNS for $3.3 Billion to Lead Agentic AI-Powered Intelligent Operations Globally
Capgemini will acquire WNS for $3.3B, boosting revenue growth and operating margin. The deal, approved by both boards, is expected to close by end of 2025.
Capgemini to Acquire WNS, Forming a Global Leader in Agentic AI-Powered Intelligent Operations
Creating a Leader in Intelligent Operations
Capgemini is set to acquire WNS for $76.50 per share in cash, valuing the transaction at approximately $3.3 billion, excluding WNS’s net financial debt. This acquisition is expected to immediately boost Capgemini’s revenue growth and operating margin.
By 2026, Capgemini anticipates a 4% increase in normalized earnings per share (EPS) before synergies, growing to 7% post-synergies in 2027.
Transaction Details
- The boards of both companies have unanimously approved the deal.
- Completion is expected by the end of 2025, pending regulatory and shareholder approvals.
- The offer includes a 28% premium over the last 90-day average share price and a 17% premium over WNS’s closing price on July 3, 2025.
Strategic Insights from Leadership
Aiman Ezzat, CEO of Capgemini:
“Enterprises are adopting Generative AI and Agentic AI to transform operations comprehensively. Business Process Services will showcase Agentic AI’s potential. Acquiring WNS equips Capgemini with the scale and sector expertise needed to seize this emerging opportunity.”
Keshav R. Murugesh, CEO of WNS:
“As leaders in Digital Business Process Services, we believe the next transformation wave is driven by intelligent, domain-focused operations that create strategic value for clients.”
About WNS
WNS is a trusted partner in business transformation, combining deep industry knowledge with expertise in business process management, technology, analytics, and AI. The company serves a broad portfolio of blue-chip clients and has demonstrated strong revenue growth.
Market Opportunity
This acquisition positions Capgemini as a frontrunner in Digital Business Process Services by blending broad horizontal capabilities with deep vertical expertise. Together, Capgemini and WNS will unlock cross-selling opportunities and strengthen their position in the Intelligent Operations market.
Financial Impact
- The combined business is expected to generate €23.3 billion in revenue with a 13.6% operating margin in 2024.
- Revenue synergies are projected to reach between €100 million and €140 million by the end of 2027.
Integration and Cultural Fit
The integration of WNS into Capgemini is anticipated to be smooth, supported by aligned values and cultural similarities. The transaction still requires approval from the Royal Court of Jersey and WNS shareholders.
Financing
Capgemini has secured €4.0 billion in bridge financing to fund the acquisition and related obligations. The company plans to refinance this bridge loan through available cash and debt issuance.
Outlook
Capgemini maintains its financial targets for 2025, expecting stable operating margins and continued growth in upcoming quarters despite the transaction.
Additional Information
Capgemini’s CEO, Aiman Ezzat, and CFO, Nive Bhagat, will discuss this announcement in upcoming investor and analyst webcasts.
About Capgemini
Capgemini is a global business and technology transformation partner supporting organizations in accelerating their digital and sustainable transitions. The Group reported revenues of €22.1 billion in 2024.
About WNS
WNS is a digital-led business transformation and services company with 64,505 professionals across 64 delivery centers worldwide as of March 31, 2025. The company offers diverse solutions across multiple industries, driving significant client value.