According to industry experts, the $3.3 billion acquisition of WNS by French IT services giant Capgemini is anticipated to strengthen the company’s specialised Business Process Outsourcing (BPO) capabilities and provide access to a “goldmine” of major clients looking to transition from BPO contracts to AI-focused software-as-a-service (SaaS) agreements. At a time when artificial intelligence (AI) is booming across the business, the Capgemini-WNS combination represents one of the largest IT-BPM consolidations. Experts in the field think that the acquisition is more about obtaining access to WNS’s BPO experience, which is necessary to create and implement practical AI solutions, than it is about acquiring generative and agentic AI capabilities, which are still in the pilot stage.
At a time when artificial intelligence (AI) is booming across the business, the Capgemini-WNS combination represents one of the largest IT-BPM consolidations. Experts in the field think that the acquisition is more about obtaining access to WNS’s BPO experience, which is necessary to create and implement practical AI solutions, than it is about acquiring generative and agentic AI capabilities, which are still in the pilot stage. According to Phil Fersht, CEO of HFS Research, Capgemini will also get WNS’ exclusive clientele, which is “a gold mine of sales opportunities.” “WNS’s acquisition by Capgemini offers its shareholders a perfectly timed exit, given the growing enterprise preference for technology-centric solutions over low-cost labour,” Fersht stated.
“In turn, Capgemini acquires WNS’s extensive vertical process experience and the capacity to mine WNS’s large clientele for sales opportunities centred on enterprise customers’ largest preference: replacing BPO solutions with Services-as-Software, one of Capgemini’s emerging strengths,” he continued.
The combined company is looking at a $1.5 trillion emerging market potential because WNS gives Capgemini the perfect incubator company to create cutting-edge Services-as-a-Software (SaaS). “This acquisition could help its customers get access to BPO expertise in areas like insurance, travel and hospitality, banking, etc.” “Capgemini already has strong capabilities in providing enterprise business process services like Finance and Accounting (F&A) to their clients,” said Rajesh Ranjan, managing partner, Everest Group. Ranjan stated that the BPS industry, excluding contact centres, may be broadly classified into two groups: non-IT heritage providers (Genpact, EXL, Sutherland, Firstsource, etc.) and IT-heritage providers (Accenture, TCS, Cognisant, Infosys, Wipro, etc.).
“This acquisition accomplishes two goals: a) it places Capgemini among the top suppliers of business process outsourcing (BPS) services for enterprise functions and industry-specific business processes; and b) it reduces the number of non-IT heritage providers,” he stated. Structure of Deals Capgemini will purchase WNS for $76.50 per share in cash, which is 17% more than the last closing share price on July 3, 2025, according to the signed definitive deal agreement. With the exception of WNS’s net financial debt, the total cash consideration will be $3.3 billion. According to a statement from the firm, Capgemini will immediately begin to unleash cross-selling potential as a result of this deal, which will also boost its operational margins and revenue growth.
Before synergies in 2026, the deal will increase Capgemini’s normalised EPS by 4%, and after synergies in 2027, it will increase by 7%. The Boards of Directors of Capgemini and WNS have unanimously approved the deal,” it continued. Also read: Capgemini pays $3.3 billion to purchase WNS, concentrating on AI capabilities In the end, the purchase will highlight the industry’s shift towards a more technologically augmented workforce, where human capabilities and AI-driven systems combine to create greater value for clients, according to DD Mishra, VP Analyst at Gartner. He said that this would strengthen Capgemini’s position against competitors, facilitate service for clients with end-to-end needs, and establish the company as a leader in the field of agentic AI.