PARIS: Capgemini (Euronext Paris: CAP), a global leader in business and technology transformation, has entered into a definitive agreement to acquire WNS (NYSE: WNS), a top digital-led business process services firm, for $76.50 per share in cash, valuing the deal at approximately $3.3 billion.
The transaction, approved by both companies’ boards, represents a 28% premium over WNS’s 90-day average share price and is expected to close by year-end, a statement noted.
The acquisition will position Capgemini as a leader in Intelligent Operations, leveraging Generative AI and Agentic AI to transform enterprise business processes. WNS’s expertise in digital business process services (BPS) will complement Capgemini’s consulting and technology capabilities, creating a powerhouse for AI-driven automation and efficiency.
Aiman Ezzat, CEO of Capgemini, emphasized the shift from traditional BPS to AI-powered operations:
“Enterprises are rapidly adopting AI to reimagine their processes. This acquisition gives us the scale and sector expertise to lead in Intelligent Operations, combining consulting, technology, and deep industry knowledge.”
Keshav R. Murugesh, CEO of WNS, highlighted the synergies: “By integrating our domain expertise with Capgemini’s AI capabilities, we can accelerate enterprise reinvention and unlock next-gen, data-driven operations.”
Financial and Operational Benefits
- EPS Accretion: The deal is expected to boost Capgemini’s normalized earnings per share by 4% in 2026 (pre-synergies) and 7% in 2027 (post-synergies).
- Revenue Synergies: Estimated at €100M–€140M by 2027, with cost synergies of €50M–€70M.
- Market Expansion: Strengthens Capgemini’s U.S. presence and adds WNS’s blue-chip clients, including United Airlines, Aviva, and M&T Bank.
Transaction Details & Next Steps
- Financing: Capgemini secured a €4 billion bridge loan, with refinancing planned via cash reserves and debt issuance.
- Approvals Needed: Pending shareholder and regulatory approvals, including clearance from the Royal Court of Jersey.
- Integration: Both firms cite strong cultural alignment, ensuring a smooth transition.
Capgemini’s 2025 financial targets remain unchanged, with H1 results due July 30, 2025. The deal underscores the growing demand for AI-driven business process transformation, positioning the combined entity as a market leader.