French technology company Capgemini has signed a definitive agreement to acquire IT services provider WNS in a deal valued at $3.3bn (€2.8bn). 

The transaction will see Capgemini paying $76.5 per WNS share, representing a premium of 28% to the last 90-day average share price.  

The strategic acquisition aims to bolster Capgemini’s leadership in AI-powered intelligent operations. 

Publicly listed-WNS offers business transformation services, leveraging industry knowledge, business process management, technology, analytics, and AI expertise to deliver market differentiation.  

It operates across eight industries, deploying automated platforms to enhance business outcomes, and maintains long-term contracts with recurring revenue streams.  

WNS caters to clients such as United Airlines, Aviva, M&T Bank, Centrica, and McCain Foods. 

According to Capgemini, the acquisition will position it as a leader in digital business process services (BPS), blending horizontal and vertical process expertise with a global presence.  

Capgemini CEO Aiman Ezzat said: “WNS brings to the Group its high growth, margin accretive and resilient Digital Business Process Services, which is the springboard to Intelligent Operations, while further increasing our exposure to the US market. Immediate cross-selling opportunities will be unlocked through the integration of our complementary offerings and clients.” 

WNS CEO Keshav Murugesh said: “By combining our deep domain and process expertise with Capgemini’s global reach, cutting-edge Gen AI and Agentic AI capabilities, a robust partner ecosystem, and advanced technology platforms, we are creating a powerful proposition that accelerates enterprise reinvention.  

“WNS’ complementary portfolio of horizontal and industry-specific solutions will significantly enhance Capgemini’s rapidly growing Business Services footprint, enabling next-generation, data-driven operations across sectors.” 

With combined revenues of €1.9bn in 2024 in digital BPS, Capgemini aims to strengthen its ability to support clients in their business and technology transformation journeys. 

The merger of Capgemini and WNS’s offerings and client bases is expected to unlock cross-selling opportunities and lay the foundation for seizing the intelligent operations market opportunity, the French group said.   

Intelligent operations provide a consulting-led approach to transform and operate business processes leveraging AI technologies.  

It focuses on efficiency, speed, and agility through process hyper-automation, improving business outcomes by integrating data, AI, and digital solutions, the technology vendor explained.  

The merger is anticipated to benefit  from Capgemini’s investments in AI through its partnerships with companies such as Microsoft, Google, AWS, Mistral AI, and NVIDIA. 

The transaction has received unanimous approval from both companies’ boards of directors and is subject to approval by the Royal Court of Jersey, WNS shareholders, and customary regulatory approvals.  

The closing of the transaction is anticipated by the end of 2025. 

In May 2025, Capgemini, Mistral AI and SAP teamed up to offer AI models for the regulated industries such as financial services, the public sector, aerospace and defence, as well as  energy and utilities.