TLDR: Capgemini has announced its definitive agreement to acquire WNS for $3.3 billion in cash, aiming to establish a global leader in Agentic AI-powered Intelligent Operations. The acquisition, approved by both boards, is expected to significantly boost Capgemini’s earnings per share by 2027 and capitalize on the growing demand for AI-driven business transformation.
Paris, France – July 7, 2025 – Capgemini (Euronext Paris: CAP), a global leader in business and technology transformation, today announced a definitive agreement to acquire WNS (NYSE: WNS), a prominent digital-led business transformation and services company. The strategic acquisition, valued at approximately $3.3 billion in cash, excluding WNS’s net financial debt, is set to create a global powerhouse in Agentic AI-powered Intelligent Operations.
Under the terms of the agreement, Capgemini will acquire WNS for a cash consideration of $76.50 per share. This represents a significant premium of 28% to WNS’s last 90-day average share price, 27% to its last 30-day average share price, and 17% to its closing share price on July 3, 2025.
The acquisition is anticipated to have an immediate positive impact on Capgemini’s financial performance. It is expected to be accretive to Capgemini’s revenue growth and operating margin. Furthermore, the deal is projected to boost Capgemini’s normalized earnings per share (EPS) by 4% before synergies in 2026, and by a substantial 7% post-synergies in 2027. Capgemini forecasts revenue synergies between 100 million and 140 million euros (approximately $117.8 million-$164.9 million) and an annual pretax run rate for cost and operating model synergies ranging from 50 million to 70 million euros by the end of 2027.
This move comes as enterprises are rapidly embracing Generative AI to transform their end-to-end business processes. Capgemini’s Chief Executive, Aiman Ezzat, emphasized the strategic rationale behind the acquisition, stating, “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 business process services to Agentic AI-powered Intelligent Operations.”
WNS has demonstrated robust financial performance, reporting $1.27 billion in revenue in fiscal year 2025 with an operating margin of 18.7%. Over the last three fiscal years, WNS has achieved an average revenue growth of approximately 9% at constant currency. The company aims for a growth of +7% to +11% in the Digital BPS market for fiscal year 2026, underscoring the significant market opportunity this combined entity will address.
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The transaction has received unanimous approval from the Boards of Directors of both Capgemini and WNS. Subject to customary regulatory approvals, the acquisition is expected to close by the end of the current year.
