Capgemini to acquire WNS for $3.3 bn in major BPM industry deal

By | July 8, 2025
Capgemini acquires WNS in $3.3 billion AI-powered BPM acquisition

In a major move in the business process management (BPM) sector, French tech giant Capgemini has announced plans to acquire Indian-origin digital BPM leader WNS Global Services for $3.3 billion. This all-cash deal marks one of the largest acquisitions in the BPM industry, pushing Capgemini closer to the forefront of AI-powered digital operations.

Deal Details

Capgemini will buy WNS at $76.50 per share, which is a 17% premium over WNS’s closing price before the announcement. Both companies’ boards have unanimously approved the deal. It is expected to close by late 2025, pending shareholder and regulatory approvals.

WNS, founded in 1996, has grown into a global BPM force. It employs over 65,000 professionals, with more than 44,000 based in India. The company offers services in customer support, finance, healthcare, analytics, and more. WNS earned $1.3 billion in revenue in FY2025 and posted an 18.7% operating margin.

Capgemini’s Vision for the Future

Capgemini isn’t just buying scale. It aims to create a new category—“intelligent operations”—by combining WNS’s domain expertise with agentic AI capabilities. This next-generation AI can act autonomously, helping businesses make faster, smarter decisions.

“This deal isn’t about expanding BPM services,” said Aiman Ezzat, Capgemini CEO. “It’s about reshaping operations with automation, AI, and sector-specific solutions.”

Capgemini believes AI will redefine how companies handle customer service, data, and back-office work. By acquiring WNS, the company adds deep BPM skills across banking, insurance, healthcare, travel, and utilities. This strengthens Capgemini’s global service portfolio and positions it as a top player in enterprise transformation.

Strategic and Financial Gains

Capgemini expects the deal to deliver significant growth:

  • €100–140 million in revenue synergies by 2027
  • €50–70 million in annual cost savings
  • +4% EPS impact in 2026, rising to +7% by 2027

After the acquisition, Capgemini’s projected 2024 revenue will reach €23.3 billion. Operating margins will rise to around 13.6%. These numbers reflect how WNS strengthens Capgemini’s ability to offer integrated digital solutions.

WNS Sees Strategic Alignment

Keshav Murugesh, WNS CEO, described the deal as a turning point. “Our clients want partners who combine industry knowledge with AI, analytics, and tech. Capgemini gives us the scale and innovation edge to lead in this space,” he said.

The deal is not just about WNS joining a larger firm. It’s a step toward evolving BPM services. WNS will continue to operate with its own leadership, while gaining access to Capgemini’s tools and reach.

India at the Center of Growth

WNS’s large presence in India makes this a key acquisition for Capgemini’s global delivery network. India already serves as a major operations base for Capgemini. The deal boosts its capabilities even further.

Analysts expect this to drive more BPM consolidation in India. Smaller players may seek partnerships or investments to stay relevant in an AI-first world.

“This is a strategic move to dominate AI-driven operations,” said a Mumbai-based IT analyst. “It’s a signal for other firms to rethink their value propositions.”

Market Response and Risks

Investors had mixed reactions. Capgemini’s stock fell by 5% after the announcement. The dip reflects concerns over:

  • The high premium paid
  • Integration risks between large teams
  • Uncertainty around scaling agentic AI

Capgemini remains confident. “We’re investing in the future. The return will come from helping clients transform with AI and intelligent processes,” said Ezzat.

Next Steps

The deal still needs shareholder votes and regulatory clearances. This includes approvals from the Jersey Financial Services Commission, as WNS is registered in Jersey.

Once completed, the deal will place Capgemini ahead of many rivals, including Accenture, Infosys, Genpact, and TCS, in the digital operations race.

The Bigger Picture

This acquisition shows how fast the outsourcing world is changing. Companies now want more than cost savings. They look for partners who can automate, analyze, and innovate.

Capgemini and WNS are betting that AI and industry knowledge will lead this new era. Their combined strengths could help global clients reimagine operations—making them faster, smarter, and more efficient.

In the coming years, expect more deals like this. The industry is shifting from traditional outsourcing to AI-powered orchestration. Capgemini’s bold move just set a new benchmark.