Capgemini Shares Drop 5% Following $3.3 Billion WNS Deal to Boost AI Growth

Capgemini just made a big move in the tech world. On July 4, 2025, the French tech and consulting firm revealed plans to acquire WNS, a global BPO provider, in a $3.3 billion cash deal. After the deal was announced, Capgemini’s share price fell by 5%. It’s a sharp decline for a company with such a large market value.

So, what’s going on?

We’re looking at a major deal aimed at boosting Capgemini’s strength in artificial intelligence, automation, and digital services. WNS is known for helping big companies manage their operations using data and smart technology. Capgemini aims to accelerate its growth in AI-driven services by bringing WNS into its operations.

We’ll study what Capgemini is acquiring, why it’s important, and how it could shape the company’s future. Let’s get into the details.

What We’re Buying

WNS stands out as a top provider in the digital Business Process Services (BPS) sector. In 2024, the combined revenue of Capgemini and WNS reached €23.3 billion, with a 13.6% operating margin. WNS stands out in areas like AI, analytics, automation, and serving clients such as Coca‑Cola, T‑Mobile, and United Airlines.

Strategic Push into Agentic AI

This deal aims to build a leading force in “Intelligent Operations” using Agentic AI and Generative AI technologies. These advanced technologies enable systems to act autonomously, making decisions and driving business processes with less human input.

Capgemini CEO Aiman Ezzat highlighted that merging WNS gives the firm the “scale and vertical sector expertise” to lead in this emerging market.

Financial Upside & Deal Funding

Capgemini anticipates the deal will boost earnings right away, with EPS projected to grow 4% in 2026 and 7% in 2027, excluding synergies.

In terms of synergies, the company foresees €100‑140 million in revenue gains and €50‑70 million in cost savings by end‑2027.

To fund the purchase, Capgemini secured a €4 billion bridge loan, covering the $3.3 billion payment, WNS’s net financial debt (~$0.4 billion), and repayment of a €0.8 billion bond due June 2025. Refinancing will include €1 billion from existing cash and the remainder through debt issuance.

Stock Reaction & Market Context

Following the announcement, Capgemini’s shares slid about 5%, dipping to their lowest since April, while WNS shares surged approximately 12–14% in pre-market trading.

This move places Capgemini firmly in the broader trend of consulting giants, like Accenture and TCS, moving aggressively into AI-driven business process transformation.

Operational Integration Plans

Capgemini emphasizes a smooth integration, citing a strong cultural fit and its history with successful acquisitions. WNS will become part of Capgemini’s Global Business Services, opening up cross-selling chances across sector-focused platforms and service centers.

WNS management, including its CEO Keshav Murugesh, will join Capgemini’s leadership to help guide operations through the transition.

Regulatory Steps

Closing the deal depends on multiple approvals:

• Royal Court of Jersey
• WNS shareholder vote
• Regulatory clearance in key markets

All board approvals are complete, and closing is anticipated by the end of 2025.

Industry Outlook

AI investment in BPO is growing fast, as enterprises look for hyper‑automation and autonomous operations. Capgemini reported over €900 million in Gen AI bookings in 2024. Their agentic AI push aligns with clients’ growing demand for outcome-based automation and strategic reinvention.

WNS brings strong growth, around 9% revenue CAGR over the past three years, with an 18.7% operating margin in FY2025.

What Happens Next

Here’s what we’ll be watching:

1. Completion of regulatory and shareholder approval processes.
2. Execution of integration plans and delivery of synergies.
3. Monitoring the results of the merged operations throughout 2026 and 2027.

Conclusion

This $3.3 billion deal marks a calculated leap for Capgemini. We’re seeing a targeted move to become a leader in AI-powered operations by blending Capgemini’s consulting strength with WNS’s BPO and analytics expertise. While the dust settles from the short-term stock dip, the real test will be in delivering financial gains, seamless integration, and leading-edge Agentic AI solutions in the marketplace.

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Disclaimer:

This content is for informational purposes only and not financial advice. Always conduct your research.