Capgemini to Acquire WNS for $3.3 Billion in Major BPM Deal

Capgemini to Acquire WNS for $3.3 Billion in Major BPM Deal

Mumbai | Updated: July 8, 2025 | Written by: George Mathew

In a landmark move in the IT and BPM sector, Capgemini announced the acquisition of Mumbai-based WNS (Holdings) Ltd for $3.3 billion (?28,000 crore) in an all-cash deal.

Key Highlights:

Capgemini is offering $76.50 per share, a premium of
28% over the 90-day average
27% over the 30-day average
17% over the July 3 closing price
Boards of both companies have unanimously approved the deal.
Closing expected by year-end 2025, subject to regulatory and shareholder approvals and the Royal Court of Jersey.
The deal will be EPS-accretive:
plus 4% by 2026 (before synergies)
plus 7% by 2027 (post-synergies)
Capgemini will finance the deal with a €4 billion bridge loan, to be refinanced through cash and new debt.

Why This Deal?

Strengthens Capgemini’s Digital BPS and Intelligent Operations capabilities.
Combines WNS’s domain-led BPM expertise and large Indian workforce with Capgemini’s consulting, technology, and AI-driven offerings.
Positions Capgemini as a global leader in AI-powered operations.
Builds on strategic AI partnerships (Microsoft, Google, AWS, NVIDIA) and €900M Gen AI bookings in 2024.

About WNS:

Founded in 1996 by British Airways in Mumbai.
Headquartered in Mumbai (Global HQ), New York (US HQ), London (EMEA HQ).
Operates 25 delivery centers in India, employing nearly 39,700 people.
Strong presence in Mumbai, Pune, Noida, Chennai, Bengaluru, Gurugram, Indore, Nashik, Vizag, Hyderabad.
India accounts for over 50% of WNS’s revenue.
Provides BPM services across industries such as healthcare, BFSI, logistics, travel, analytics, and insurance.

About Capgemini:

A French multinational IT services and consulting giant.
Reported €23.3 billion in 2024 revenue, including €1.9 billion from Digital BPS.
Known for its focus on AI, sustainability, and digital transformation.

CEO Comments:

Aiman Ezzat (Capgemini CEO): “This positions us to lead in intelligent operations, embedding AI at the core.”
Keshav Murugesh (WNS CEO): “Clients are moving from automation to autonomy. Together, we can help them reimagine operations.”

About Keshav Murugesh:

Chennai-born, London-based Group CEO of WNS.
Responsible for strategy, performance, and global growth.

The acquisition underscores the growing demand for AI-driven, domain-centric BPM services and further cements India’s role as the backbone of global BPM operations.