French IT services giant Capgemini announced on Monday its strategic acquisition of WNS, a prominent business process services (BPS) provider, for $3.3 billion in an all-cash deal. This significant move aims to establish Capgemini as a leader in delivering “agentic AI-powered intelligent operations” for businesses globally.
Both companies currently assist clients in deploying artificial intelligence, and their combined strengths are expected to accelerate their expertise in developing autonomous AI agents—AI systems capable of making independent decisions and performing tasks without human intervention—to manage complex business processes.
“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,” stated Aiman Ezzat, CEO of Capgemini.
WNS is a key player in the BPS industry, which involves companies outsourcing specific business functions. Headquartered in London with a significant operational presence in India and a New York stock listing, WNS originated in the late 1990s by serving British Airways. The BPS sector has evolved considerably, moving beyond simply cost-cutting through back-office outsourcing to enabling profound operational transformation via advanced technology.
Keshav Murugesh, CEO of WNS, echoed this sentiment, remarking, “Organizations that have already digitized are now seeking to reimagine their operating models by embedding AI at the core—shifting from automation to autonomy.”
The acquisition agreement stipulates that Capgemini, which specializes in IT consulting and system development, will purchase WNS for $76.50 per share in cash. This represents a substantial 28 percent premium over WNS’s 90-day average share price.
Capgemini projects that the transaction will immediately create cross-selling opportunities and positively impact its financial performance. The deal is expected to add four percent to its earnings per share (EPS) in 2026 before synergies are realized, with this figure rising to seven percent in 2027 once full synergies are integrated.
The boards of directors of both companies have unanimously approved the transaction, as confirmed in a joint statement. To facilitate the purchase and assume WNS’s existing debt, Capgemini has secured bridge financing totaling four billion euros ($4.7 billion). The acquisition is anticipated to close by the end of 2025, subject to regulatory approvals and other customary conditions.
