Team siliconindia

1. Capgemini is acquiring WNS for $3.3 billion in cash to strengthen its AI-powered business process services.
2. The deal supports Capgemini’s goal to build a consulting business around generative and agentic AI for enterprise efficiency.
3. While the acquisition is expected to boost revenues, investor concerns over BPO disruption and balance sheet impact led to a 5% dip in Capgemini’s shares.

French IT services giant Capgemini has announced its acquisition of India-based technology outsourcing firm WNS Global Services for $3.3 billion in cash, marking a strategic push to enhance its AI-driven business services portfolio. The move is aimed at expanding Capgemini’s offerings in generative AI and agentic AI, helping clients improve operational efficiency and reduce costs.

The deal, priced at $76.50 per WNS share, represents a 17% premium over WNS’s July 3 closing price and excludes WNS’s financial debt. Capgemini expects the transaction to close by end of 2025, with immediate positive impact on revenue and operating margin.

“WNS brings high-growth, margin-accretive, and resilient digital business process services, while significantly boosting our U.S. market exposure,” said Capgemini CEO Aiman Ezzat. WNS, known for its work in business process outsourcing (BPO) and data analytics, counts global giants like Coca-Cola, T-Mobile, and United Airlines among its clients.

The acquisition is also expected to create cross-selling opportunities in major markets like the United States and the United Kingdom. Despite the strategic upside, Capgemini’s shares dropped nearly 5%, making it the worst performer on the STOXX 600 index at the time, with analysts at Morgan Stanley noting concerns over reduced balance sheet flexibility and potential disruption in the BPO market due to generative AI.

While some investors remain cautious, analysts believe Capgemini may prove the long-term value of this bold step once evidence of AI-led transformation in BPO becomes more visible.