Capgemini Acquires WNS to Boost Generative AI and Agentic AI Capabilities
Capgemini, a leading French IT services company, has made a significant move in the technology sector by entering into a definitive agreement to acquire WNS, a prominent digital business process management (BPM) firm. The transaction is valued at USD 3.3 billion and is expected to be finalized by the end of the year.
Under the terms of the deal, Capgemini will pay USD 76.50 per share for WNS, which represents a 17% premium over the last closing price on July 3, 2025. This acquisition marks a strategic step for Capgemini as it aims to enhance its capabilities in Generative AI and Agentic AI, two rapidly evolving areas in the tech landscape.
Aiman Ezzat, CEO of Capgemini, emphasized the importance of this acquisition in transforming enterprise operations. He stated that the integration of WNS will provide Capgemini with the necessary scale and industry expertise to capitalize on the shift from traditional Business Process Services (BPS) to Agentic AI-powered Intelligent Operations.
Ezzat highlighted that WNS brings valuable digital business process services that are both high-growth and margin-accretive. He also noted that this acquisition will increase Capgemini’s exposure to the US market, creating immediate cross-selling opportunities through the integration of their complementary offerings and client bases.
Keshav R. Murugesh, CEO of WNS, expressed his confidence in the partnership. He mentioned that combining WNS’s domain and process expertise with Capgemini’s global reach, advanced Gen AI and Agentic AI capabilities, and a robust partner ecosystem would create a powerful proposition for enterprise reinvention. This collaboration is expected to significantly enhance Capgemini’s Business Services footprint, enabling next-generation, data-driven operations across various sectors.
WNS has established itself as a key player in digital transformation, serving clients across eight industries. Its portfolio includes well-known blue-chip companies such as United Airlines, Aviva, M&T Bank, Centrica, and McCain Foods. The company targets revenue growth of 7-11% for FY26, reflecting its strong market position.
This acquisition is anticipated to solidify Capgemini’s leadership in Digital BPS by blending horizontal and vertical process expertise with a global footprint. With combined revenues of €1.9 billion in Digital BPS in 2024, the merger will strengthen Capgemini’s ability to support clients on their business and technology transformation journeys.
The integration of WNS and Capgemini is expected to unlock cross-selling opportunities and lay the groundwork for capturing the Intelligent Operations market opportunity. This new approach to business process services leverages Generative AI and Agentic AI to transform and operate horizontal and vertical processes, focusing on efficiency, speed, and agility.
Intelligent Operations addresses the growing demand for consulting-led, tech-driven solutions that enhance business outcomes through process hyper-automation and the integration of data, AI, and digital tools. As organizations seek to become AI-powered entities, the market for Intelligent Operations is expanding rapidly.
Both Capgemini and WNS have already established themselves in the Intelligent Operations space. Capgemini offers consulting-led end-to-end process transformation, while WNS has developed sector-specific AI-led solutions, further strengthened by the recent acquisition of Kipi.ai.
Analysts believe this acquisition will further enhance Capgemini’s position in the AI domain. The company reported over €900 million in Gen AI bookings in 2024, and this deal is expected to bolster its AI capabilities.
Capgemini’s financial targets for 2025 remain unchanged, with an expected revenue growth of -2.0 to +2.0% in constant currency and an operating margin of 13.3 to 13.5%. This acquisition underscores Capgemini’s commitment to innovation and its vision for the future of business process services.
