Capgemini and WNS have announced that they have entered into a definitive transaction agreement pursuant to which Capgemini will acquire WNS for a cash consideration of 76.50 USD per WNS share, which represents a premium of 28% to the last 90-day averageĀ share price, of 27% to the last 30-day averageĀ share price and a premium of 17% 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. The transaction will be accretive to Capgeminiās normalized EPSĀ by 4% before synergies in 2026 and 7% post synergies in 2027. The transaction has been unanimously approved by both Capgeminiās and WNSā Boards of Directors.
āEnterprises are rapidly adopting Generative AI and Agentic AI to transform their operations end-to-end. Business Process Services will be the showcase for Agentic AI. Capgeminiās 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 toĀ Agentic AI-powered Intelligent Operations,āĀ comments Aiman Ezzat, Chief Executive Officer of Capgemini.Ā āTogether we 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. 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.ā
āAs a recognized 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. Organizations that have already digitized are now seeking to reimagine their operating models by embedding AI at the coreāshifting from automation to autonomy,āĀ said Keshav R. Murugesh, Chief Executive Officer of WNS.Ā āBy combining our deep domain and process expertise with Capgeminiās 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. WNSā complementary portfolio of horizontal and industry-specific solutions will significantly enhance Capgeminiās rapidly growing Business Services footprint, enabling next-generation, data-driven operations across sectors. Just as importantly, our shared values, cultural alignment, and complementary client relationships ensure a seamless integrationāunlocking exciting opportunities for innovation, co-creation, and growth across all stakeholder groups.ā
WNS is a leading and trusted business transformation and services partner that uniquely blends deep industry knowledge with business process management, technology, analytics and AI expertise to create market differentiation for clients. With digital-led transformation solutions deployed to clients across 8 industries where it deploys its highly automated platforms to deliver stronger business outcomes, WNS is a leader in Digital Business Process Services (BPS). This operating model enables strategic engagements that are critical to clientsā daily operations materialized in long-term contracts with recurring revenues streams. Through an expanded ecosystem of partners and network of delivery centers, WNS serves a large portfolio of blue-chip clients, such asĀ United Airlines, Aviva, M&T Bank, Centrica and McCain Foods.
This transaction will position Capgemini as a leader in Digital BPS blending horizontal and vertical process expertise, with a global footprint. With combined revenues of ā¬1.9 billion in 2024 in Digital BPS, this will strengthen Capgeminiās ability to accompany clients on their business and technology transformation journeys.
The mix of WNS and Capgeminiās complementary offerings and clients will immediately unlock cross-selling opportunities. It will also lay down the foundations to build the capabilities to seize the Intelligent Operations strategic market opportunity.
Both Capgemini and WNS are already pioneering Intelligent Operations.Ā Capgemini with its consulting-led end-to-end transformation of processes, advanced AI tools and technology stacks, and BPS platforms, while WNS has developed a set of sector-specific AI-led solutions recently augmented by the acquisition of Kipi.aiĀ to strengthen its data, analytics and AI capabilities.
The combination of Capgemini and WNS will act as a catalyst to lead in Intelligent Operations providing the required scale and unique set of capabilities fromĀ Strategy & Transformation consulting, to horizontal and sector expertise, platform offerings to deep AI and technology capabilities.
This combination will also leverageĀ the significant investments made by Capgemini in AI through training, offers and its 25 strategic partnerships, including Microsoft, Google, AWS, Mistral AI and NVIDIA. The Groupās leadership is recognized by its clients, with over ā¬900 million of Gen AI bookings in 2024, and by market analysts such as Forrester, IDC and ISG.
This transaction will reinforce Capgemini as a business and transformation partner to those enterprises who want to become AI-powered businesses.
