Capgemini's $3.3 billion acquisition to close by year-end, no immediate changes in global operations: WNS CEO Keshav Murugesh

Keshav Murugesh, CEO, WNS

Capgemini’s $3.3 billion acquisition of business process outsourcing firm WNS will have no immediate changes to the company’s workforce or global operations, according to WNS Chief Executive Officer Keshav Murugesh, who added that the deal is expected to close by the end of the year.

The merger signals a significant consolidation in the IT-BPM space in the recent times as the competition amid the AI boom intensifies. Both Capgemini and WNS have a large number of employees based in India.

Responding to Moneycontrol’s emailed queries, Murugesh said, “This announcement with Capgemini does not signal any immediate changes to our global operations. We maintain a strong presence in New York, London, and India, and are fully committed to all our markets. In fact, our geographies are largely complementary to Capgemini’s.”

“This deal is about creating new capabilities that are additive to our existing model. Until closing, which we expect to occur by the end of the year, Capgemini and WNS will continue to operate as independent companies. There are no immediate operational changes,” he added.

In India, WNS had around 44,117 professionals as of March 31. The company has offices across Mumbai, Pune, Gurgaon, Nashik, Bangalore, Chennai, Vizag, Indore, Trichy, Hyderabad and Noida.

Globally, WNS has 64 delivery centers worldwide including facilities in Canada, China, Costa Rica, India, Malaysia, the Philippines, Poland, Romania, South Africa, Sri Lanka, Turkey, the United Kingdom, and the United States.

He added that the transaction will address its global clients’ needs for Agentic AI-driven process transformation to deliver efficiency and automation, while achieving superior business outcomes.

"Together Capgemini and WNS will create a leader in Intelligent Operations, uniquely positioned to support organizations in their AI-powered business process transformation, blending the critical capabilities needed from consulting, technology and platforms to deep process and industry expertise," Murugesh said.

The deal structure

As per the definitive transaction agreement signed, Capgemini will acquire WNS for a cash consideration of $76.50 per share, which represents a premium of 17 percent to the last closing share price on July 3, 2025.

The total cash consideration will amount to $3.3 billion, excluding WNS net financial debt.

This transaction will immediately start unlocking cross-selling opportunities for Capgemini while increasing its revenue growth and operating margins, the company noted in a statement.

“The transaction will be accretive to Capgemini’s normalized EPS by 4% before synergies in 2026 and 7% post synergies in 2027. The transaction has been unanimously approved by both Capgemini’s and WNS’ Boards of Directors,” it added.

Also read: WNS acquisition: Capgemini gains sector-specific BPO expertise, SaaS-driven client demand