Capgemini has announced a definitive agreement to acquire WNS for $3.3 billion in an all-cash deal, marking a bold move to strengthen its position in the fast-evolving domain of agentic AI. The acquisition, unanimously approved by the boards of both companies, values WNS at $76.50 per share, reflecting a 28% premium over its 90-day volume-weighted average price.

The move signals Capgemini’s intention to lead the next wave of AI transformation, particularly in business process services (BPS)—an area the company sees as pivotal in showcasing the power of agentic AI. “Business process services will be the showcase for agentic AI,” said Aiman Ezzat, CEO of Capgemini. “Capgemini’s acquisition of WNS will provide the group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity.”

WNS, a global BPS leader with deep domain capabilities across industries including BFSI, travel, healthcare, and utilities, reported revenues of $1.27 billion in FY25 and has consistently delivered 9% growth over the past three years. The acquisition will add WNS’s expertise, talent base, and longstanding client relationships to Capgemini’s growing AI-led digital transformation portfolio.

Keshav R Murugesh, CEO of WNS, emphasized the strategic fit and timing of the deal. “Organisations that have already digitised are now seeking to reimagine their operating models by embedding AI at the core—shifting from automation to autonomy,” he said, highlighting how agentic AI will help clients move from efficiency to intelligent self-learning systems.

Capgemini has emerged as a front-runner in generative AI, recording €900 million in GenAI bookings in 2024 alone. Its ongoing collaborations with hyperscalers like Microsoft, Google Cloud, AWS, and chipmaker NVIDIA are enabling the delivery of AI-powered intelligent operations at scale. This acquisition will significantly deepen its domain and delivery capabilities, especially in markets demanding operational agility and AI-enhanced customer experiences.

The financial impact of the deal is expected to be significant. Capgemini projects an EPS accretion of 4% by 2026, increasing to 7% in 2027 after expected synergies are realized. The deal will be financed entirely through available cash reserves and is expected to close in the latter half of 2025, subject to regulatory approvals.

As global enterprises pivot from traditional process automation to AI-driven operational intelligence, the acquisition positions Capgemini as a transformative partner capable of delivering autonomous, scalable solutions across the business services value chain.