Capgemini acquires WNS for $3.3 billion with a focus in AI capabilities

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French IT services giant Capgemini on July 7 announced the acquisition of business transformation services firm WNS for $3.3 billion, excluding debt. The move will expand the company’s generative AI and agentic AI capabilities.

Capgemini said the two sides entered a definitive transaction agreement, wherein WNS, a London-based firm, will be acquired for a cash consideration of $76.50 a share, a premium of 17 percent to the last closing share price.

The transaction will be accretive to Capgemini’s normalized EPS by 4% before synergies in 2026 and 7% post synergies in 2027.

“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,” chief executive officer Aiman Ezzat said.

“Together we will create a leader in Intelligent Operations, uniquely positioned to support organisations in their AI-powered business process transformation, blending the critical capabilities needed from consulting, technology and platforms to deep process and industry expertise,” he said.  This will address the client needs for agentic AI-driven process transformation to deliver efficiency and agility through hyper-automation while achieving superior business outcomes.

Capgemini said the transaction would immediately unlock cross-selling opportunities. It would also lay the foundations to build the capabilities to seize the Intelligent Operations strategic market opportunity.

"With combined revenues of €1.9 billion in 2024 in Digital BPS, this will strengthen Capgemini’s ability to accompany clients on their business and technology transformation journeys," it added.

WNS CEO Keshav R Murugesh 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."

WNS' portfolio include blue-chip clients such as United Airlines, Aviva, M&T Bank, Centrica and McCain Foods.