Capgemini to Acquire WNS for $3.3 Billion to Scale Agentic AI Business The acquisition is expected to help Capgemini combine the capabilities and scale of both the companies to address the strategic opportunity driven by Agentic AI

In a bid to expand its Generative AI and Agentic AI capabilities, French IT services major Capgemini has entered into a definitive agreement to acquire WNS, a leading digital business process management (BPM) firm for a total consideration of USD 3.3 billion. The closing of the transaction is expected to occur by the end of the year.

Capgemini said it will acquire WNS for a cash consideration of USD 76.50 per WNS share, which represents a premium of 17 per cent to the last closing share price on July 3, 2025.

"Enterprises 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. 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," said Aiman Ezzat, Chief Executive Officer of Capgemini.

Ezzat said WNS brings to the Group its "high growth, margin accretive" digital business process services and it will further increase their exposure to the US market. "Immediate cross-selling opportunities will be unlocked through the integration of our complementary offerings and clients. I am looking forward to welcoming the WNS global team to Capgemini."

Commenting on the acquisition, Keshav R. Murugesh, Chief Executive Officer of WNS, said, "By combining our deep domain and process expertise with Capgemini's 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. WNS' complementary portfolio of horizontal and industry-specific solutions will significantly enhance Capgemini's rapidly growing Business Services footprint, enabling next-generation, data-driven operations across sectors."

WNS's digital-led transformation solutions are used by clients across eight industries. WNS serves a large portfolio of blue-chip clients, such as United Airlines, Aviva, M&T Bank, Centrica, and McCain Foods.

Global organizations are in constant need of strategic partners to support their transformation to enhance efficiency and accelerate growth. This continues to be a key driver of the Digital BPS market and WNS targets revenue growth of 7-11 per cent for FY26.

This acquisition is expected to position Capgemini as a leader in Digital BPS blending horizontal and vertical process expertise, with a global footprint. With combined revenues of €1.9 billion in 2024 in Digital BPS, this will strengthen Capgemini's ability to accompany clients on their business and technology transformation journeys.

"The mix of WNS and Capgemini's 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," the company said in a statement.

The largest opportunity for global organizations to create value with Gen AI and Agentic AI lies in the fundamental redesign of their operations and business processes. It will attract a significant share of their AI investments as they seek to become AI-powered companies to lead their market. This is creating demand for a new type of business process services: Intelligent Operations.

Intelligent Operations answers these business needs, providing a consulting-led approach to transform and operate horizontal and vertical business processes leveraging Gen AI and Agentic AI. It addresses clients' goal of efficiency, speed and agility through process hyper-automation, while significantly improving business outcomes by combining data, AI and digital.

AI technologies trigger a paradigm shift in delivering business process services: from labour-intensive services to being consulting-led and tech-driven. In parallel, client focus has shifted from efficiency gains toward end-to-end value creation and business outcomes, opening opportunities to add non-linear revenues (i.e. transaction-based, subscription-based or outcome-based models). This is creating a rapidly growing market opportunity.

Both Capgemini and WNS already play in Intelligent Operations. 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.ai to strengthen its data, analytics and AI capabilities.

The combination of Capgemini and WNS is expected act as a catalyst to lead in Intelligent Operations providing the required scale and unique set of capabilities from Strategy & Transformation consulting to horizontal and sector expertise, platform offerings to deep AI and technology capabilities.

Analysts believe the acquisition with further enhance Capgemini's play in the AI domain. "It reported over €900 million of Gen AI bookings in 2024 and the acquisition will further help the French major in strengthening its AI play," a Bengaluru-based IT analyst said.

Capgemini's financial targets for 2025 do not take into account this transaction and are therefore unchanged. It expects a revenue growth of -2.0 to +2.0 per cent in constant currency and operating margin of 13.3 to 13.5 per cent.