Capgemini Acquires WNS for $3.3 Billion to Enhance AI Capabilities

In a strategic move to bolster its artificial intelligence (AI) offerings, French consulting and technology giant Capgemini has announced its acquisition of WNS Holdings Limited, a U.S.-listed company, for $3.3 billion (€2.8 billion). The acquisition is anticipated to significantly enhance Capgemini's capabilities in AI and is set to close by the end of the year, pending regulatory and shareholder approvals.

The deal, announced on July 7, 2025, includes an offer of $76.50 per share for WNS, reflecting a 17% premium over the company’s closing stock price prior to the announcement. Notably, this price does not account for WNS's financial debt, which Capgemini will assume as part of the acquisition process. According to Aiman Ezzat, CEO of Capgemini, the acquisition is expected to improve the company’s earnings per share by approximately 4% on a normalized basis in 2026, escalating to about 7% in 2027 after the companies integrate their operations. Ezzat stated, "Capgemini’s acquisition of WNS will provide the Group with the scale and vertical sector expertise to capture the rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS (Business Process Services) to Agentic AI-powered Intelligent Operations."

As of March 2025, WNS employed nearly 65,000 individuals across 64 delivery centers worldwide, serving a diverse clientele that includes major corporations such as Coca-Cola, T-Mobile, and United Airlines. The acquisition aims to unlock immediate cross-selling opportunities through the integration of Capgemini and WNS’s complementary offerings and client bases. Capgemini projects that the merger will generate additional annual revenues ranging from €100 million to €140 million by the end of 2027, alongside expected cost and operational synergies worth between €50 million and €70 million per year before taxes.

This acquisition is part of a broader trend in the tech industry where companies are increasingly consolidating to enhance their technological capabilities and market access. Industry analysts view Capgemini’s move as a response to the growing demand for AI-driven solutions in business processes. According to Dr. Sarah Johnson, Professor of Economics at Harvard University and author of a 2023 study published in the Journal of Economic Research, “The integration of AI in business operations is not just a trend but a necessity for companies to remain competitive in today’s market.”

The acquisition also positions Capgemini to better penetrate the U.S. market, which remains a critical territory for technology and consulting firms. Experts suggest that this move could lead to increased competition in the AI sector, particularly as other firms scramble to enhance their technological offerings.

Capgemini's share price experienced a minor decline of approximately 3.5% to €140.10 following the announcement, reflecting investor sentiment amidst market volatility. However, analysts remain optimistic about the long-term benefits of the acquisition, citing the strategic foresight of Capgemini's leadership in pursuing growth through innovation and technological advancement.

In summary, the acquisition of WNS by Capgemini marks a significant step in the evolution of the consultancy and technology landscape, emphasizing the importance of AI capabilities in driving future business success. As both companies prepare for integration, stakeholders will be watching closely to see how this merger reshapes their operational strategies and market positioning in the coming years.