Capgemini (OTCMKTS:CGEMY), a French technology firm, has annoucned it will acquire WNS Holdings (NYSE:WNS) for $3.3 billion in cash.
Capgemini will pay $76.50 per WNS share, reflecting a 17% premium over WNS’s July 3 closing price and 28% over the 90-day average share price.
WNS, headquartered in London with significant operations in India, is a leading provider of digital business process services, serving over 600 global clients.
According to Capgemini, the acquisition will expand its presence in the US and enhance its capabilities in AI-driven intelligent operations, particularly in banking and insurance.
“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 to Agentic AI-powered Intelligent Operations,” Capgemini CEO Aiman Ezzat said in a statement.
Capgemini projects the deal will increase its normalized earnings per share by 4% in 2026 before synergies, and by 7% in 2027 after achieving revenue and cost synergies.
Expected synergies include €100 million to €140 million in annual revenue and €50 million to €70 million in annual cost savings by the end of 2027.
To finance the transaction, Capgemini has secured €4 billion in bridge financing, which will be refinanced through a mix of €1 billion in cash and additional debt issuance.
The deal, unanimously approved by both companies' boards, is expected to close by year-end.
Shares of WNS added 14.3% just shy of $75 on the news, while Capgemini’s US-listed shares fell 6.7% to about $32.