Capgemini to buy outsourcing firm WNS for $3.3 billion, $76.50 per share

French IT consulting group Capgemini said on Monday it will acquire outsourcing firm WNS for $3.3 billion in cash, expanding its business process services and AI-driven operations capabilities.

Capgemini will pay $76.50 per share for New York-listed WNS, representing a premium of 17% to its last closing price and 28% over its 90-day average, the companies said in a joint statement.

The deal, unanimously approved by both companies’ boards, is expected to boost Capgemini’s earnings per share by 4% in 2026 before synergies and by 7% in 2027 after synergies are realised, they added.

The transaction will be funded entirely in cash and excludes WNS’s net financial debt.

“Capgemini’s acquisition of WNS will provide the group with scale and vertical sector expertise to capture the rapidly emerging strategic opportunity created by the shift from traditional business process services to AI-powered intelligent operations,” Capgemini Chief Executive Aiman Ezzat said.

The deal is part of Capgemini’s push to expand its capabilities in what it calls “Intelligent Operations”, a next-generation version of business process outsourcing (BPO) that uses generative and agentic AI to help companies automate and redesign their core operations.

Mumbai-headquartered WNS, which provides digital-led business process services to clients in sectors ranging from banking to healthcare, recently boosted its AI capabilities with its own acquisition of AI firm Kipi.ai.

WNS CEO Keshav R. Murugesh said the deal combines WNS’ domain and process expertise with Capgemini’s AI and technology platforms to help clients embed artificial intelligence at the core of their operations.

Capgemini expects to achieve revenue synergies of €100 million to €140 million by the end of 2027, and cost synergies of €50 million to €70 million annually by the same year.

The deal will also strengthen Capgemini’s footprint in the US market, the companies said, positioning the group as a leader in intelligent operations services that combine AI, data, and business process transformation.