French IT services giant Capgemini has agreed to acquire technology outsourcing firm WNS for $3.3 billion, aiming to enhance its capabilities in artificial intelligence (AI) for improving business efficiency. The agreed price of $76.50 per WNS share marks a 17% premium over its July 3 closing price and excludes WNS’s financial debt, Capgemini announced on Monday.

This acquisition will enable Capgemini to build a specialized consulting service focused on helping businesses optimize operations and reduce costs using AI technologies, including generative and agent-based AI. The company expects this area to see significant investment growth. Reuters first reported Capgemini’s interest in India-based WNS—known for its business process outsourcing and data analytics services—in April.

"WNS adds strong, high-margin, and resilient Digital Business Process Services to our portfolio and strengthens our position in the U.S. market," said Capgemini CEO Aiman Ezzat. WNS serves major global clients like Coca-Cola, T-Mobile, and United Airlines. During a call with analysts and media, Ezzat noted that the deal opens up immediate cross-selling opportunities, particularly in the U.S. and U.K. He also highlighted the potential to leverage WNS’s platform expertise, especially with clients in the banking and insurance sectors.

Capgemini expects the transaction, set to close by the end of 2025, to immediately contribute to its revenue and operating margin. The company projects the acquisition will increase its adjusted earnings per share by 4% in 2026 before synergies, and by 7% in 2027 after synergies—without affecting its 2025 financial outlook. Despite the announcement, Capgemini shares fell 4% by 0822 GMT, hitting their lowest point in over two months.