- Capgemini (France) will acquire India-based WNS for $3.3 billion in cash (Capgemini to Acquire).
- The move supports Capgemini’s strategy to expand AI-powered services, especially in generative and agentic AI.
- Deal price: $76.50/share, a 17% premium over WNS’s July 3 closing price.
- WNS specializes in business process outsourcing (BPO) and data analytics.
- Clients of WNS include Coca-Cola, T-Mobile, and United Airlines.
- The deal aims to create AI-driven business consulting services focused on process improvement and cost efficiency.
- Capgemini expects:
- Immediate revenue and margin boost
- Deal closure by end of 2025
- Cross-selling opportunities in the U.S. and U.K.
- Immediate revenue and margin boost
- CEO Aiman Ezzat highlighted the acquisition’s potential to grow in the U.S. market.
- However, Capgemini’s shares fell ~5% post-announcement (biggest drop in STOXX 600).
- Morgan Stanley analysts raised concerns:
- Deal might limit balance sheet flexibility
- BPO sector vulnerability to disruption from Gen AI
- Deal might limit balance sheet flexibility
Market needs proof that WNS is the right fit for this strategy.
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