Capgemini is buying US-listed WNS Holdings Ltd. for $3.3 billion (€2.8bn).
The French tech firm will pay $76.50 per WNS share, a 17% premium over last Thursday’s close. The price excludes WNS’ financial debt.
Capgemini expects this deal to boost earnings per share by about 4% in 2026, rising to 7% in 2027 after merging operations. 
Annual revenue synergies could add €100 million to €140 million by the end of 2027. Cost and operating synergies might add another €50 million to €70 million yearly, pre-tax.
The move aims to expand Capgemini’s AI operations and capabilities.
Capgemini CEO Aiman Ezzat said:
Capgemini’s acquisition of WNS will provide the Group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS (Business Process Services) to Agentic AI-powered Intelligent Operations.
Immediate cross-selling opportunities will be unlocked through the integration of our complementary offerings and clients.
WNS has nearly 65,000 employees in 64 delivery centers worldwide. Big-name clients include Coca-Cola, T-Mobile, and United Airlines.
The deal got unanimous board approval at both companies and should close by year-end, pending shareholder and regulatory green lights.
Caps to note: Capgemini shares fell 3.5% to 140.10 shortly after the deal announcement Monday morning.
