Capgemini to Acquire WNS for $3.3 Billion in Strategic AI-Led Expansion

Capgemini has unveiled a $3.3 billion agreement to acquire India-based business process outsourcing (BPO) company WNS, representing a significant move in its continued expansion into AI-powered services.The move underscores the French IT giant’s commitment to embedding advanced AI tools, including generative and agentic AI, into its consulting and outsourcing offerings to help clients boost operational efficiency.

The all-cash transaction values WNS shares at $76.50 apiece—about 17% higher than their closing price on July 3. The deal excludes WNS’s outstanding debt and is expected to close by the end of 2025, subject to regulatory approvals.

WNS, headquartered in Mumbai, serves global heavyweights like Coca-Cola, T-Mobile, and United Airlines. Its core offerings span digital BPO and data analytics—services that have remained resilient and high-margin even in uncertain economic climates. For Capgemini, the acquisition offers a chance to immediately expand its footprint in the U.S. and U.K. markets, where WNS has a strong presence.

Strategic Fit and Growth Outlook

“This acquisition strengthens our digital business process capabilities and enhances our access to high-growth sectors like banking and insurance,” said Capgemini CEO Aiman Ezzat during a media call. He noted that the combined business will unlock immediate cross-selling opportunities, especially in mature markets such as North America and the UK.

Capgemini aims to build a more comprehensive consulting business unit through this acquisition—one that integrates sector-specific process optimization with cutting-edge AI. The company anticipates the deal will immediately enhance both its revenue and operating margin.

By 2026, Capgemini anticipates a 4% boost to normalized earnings per share (EPS), rising to 7% by 2027 as synergies are fully realized. Importantly, the firm confirmed that this acquisition does not alter its outlook for the current fiscal year.

Despite the long-term strategic promise, investor sentiment took a short-term hit. Capgemini’s shares dropped 4% early Monday, hitting a two-month low shortly after the news broke.

Summary:

Capgemini is acquiring WNS for $3.3 billion in a strategic move to strengthen its AI-enabled BPO services and expand its market reach in the U.S. and U.K. The deal is expected to boost earnings starting 2026 and aligns with Capgemini’s broader plan to integrate generative AI into enterprise process consulting.

FAQs

1. Why is Capgemini acquiring WNS?

Capgemini is acquiring WNS to strengthen its position in AI-driven business process outsourcing and consulting services. The acquisition is expected to accelerate its ability to offer generative and agentic AI solutions to clients looking to enhance efficiency and reduce costs.

2. What is the value of the deal, and how is it being financed?

The deal is valued at $3.3 billion and is structured as an all-cash transaction. It excludes WNS’s outstanding financial debt.

3. At what price is Capgemini buying WNS shares?

Capgemini is offering $76.50 per share, which represents a 17% premium over WNS's last closing price as of July 3.

4. When is the acquisition expected to close?

The deal is expected to close by the end of 2025, pending regulatory and shareholder approvals.

5. How will this acquisition impact Capgemini’s financials?

Capgemini expects the acquisition to be accretive to both revenue and operating margin from day one. It forecasts a 4% increase in EPS by 2026 and 7% by 2027, post-synergies.

6. What markets and sectors will benefit most from this acquisition?

The move will expand Capgemini’s reach in the U.S. and U.K., with a strong focus on banking, insurance, and data-driven sectors, where WNS already has deep expertise and client relationships.

7. Who are WNS’s major clients?

WNS serves high-profile clients such as Coca-Cola, T-Mobile, and United Airlines, mainly in the areas of customer support, analytics, and digital transformation.

8. How does AI play into this acquisition strategy?

Capgemini plans to integrate generative AI and agentic AI into the combined service offerings, enabling clients to automate and optimize complex business processes more intelligently.

9. Will this acquisition impact Capgemini’s 2025 outlook?

No, Capgemini has stated that the acquisition will not affect its current fiscal year outlook.

10. How have investors reacted to the deal?

Despite the long-term strategic benefits, Capgemini’s stock fell 4% on the announcement, reaching a two-month low amid broader market concerns.