Capgemini’s Planned $3.3B Buy Of WNS Targeting Agentic AI Expansion

‘This transaction positions [Capgemini] as a leader in the emerging market of intelligent operation, which is the most significant opportunity for our clients to create value in the era of GenAI and agentic AI. The strategic value of this transaction lies in the complementarity of capabilities and expertise between Capgemini and WNS to provide intelligent operations at scale,’ says Capgemini CEO Aiman Ezzat.

Global business and technology services provider Capgemini Monday unveiled the planned $3.3 billion acquisition of India-based WNS in a significant play to build scale in the business process services needed to provide agentic AI.

Paris-based Capgemini, ranked No. 4 on CRN’s 2025 Solution Provider 500, is a $23 billion global business and technology transformation company with a focus on AI, GenAI, cloud, and data.

WNS, which is headquartered in New York, London, and Mumbai, is a $1.3 billion global provider of business process management.

Capgemini declined to discuss further details of the planned acquisition of WNS in response to a CRN request.

However, in an analyst conference call after news of the acquisition was released, Capgemini CEO Aiman Ezzat (pictured above) said in his prepared remarks that the transaction targets the growing need for AI capabilities.

“This transaction positions the group as a leader in the emerging market of intelligent operation, which is the most significant opportunity for our clients to create value in the era of GenAI and agentic AI,” Ezzat said. “The strategic value of this transaction lies in the complementarity of capabilities and expertise between Capgemini and WNS to provide intelligent operations at scale.”

Ezzat said Capgemini expects the integration of the two companies’ business services global capabilities to be straightforward based on the cultural fit and complementarity of capability.

The $3.3 billion acquisition, which was unanimously approved by the boards of both companies, is expected to close by the end of 2025, Ezzat said.

Capgemini plans to finance the acquisition with about 1 billion Euros of available cash plus 4 billion Euros in bridge funding.

The acquisition comes at the right time for Capgemini and WNS, Ezzat said.

“Since the advent of ChatGPT and GenAI, enterprises have focused significant attention and increasing amounts of investment around GenAI, and more broadly, AI,” he said. “Clients today better comprehend what the technology can actually deliver. Their focus is shifting from individual productivity to the transformation of end-to-end business processes.”

Large enterprises want to invest in agentic AI to change how they operate for both efficiency and growth, Ezzat said.

“It is the realization that end-to-end business processes provide the background to fully leverage the power of GenAI and agentic AI,” he said. “It is a unique opportunity to make AI real and reap its expected benefits.”

Capgemini started investing in GenAI over five years ago, building over 25 strategic partnerships, upskilling its staff, and developing a wide portfolio of offerings, and in the process became a leader in GenAI and agentic AI, with data and AI becoming one of the company’s core pillars, Ezzat said.

“With GenAI, bookings are already hitting 900 million euros last year,” he said. “Clients rely on Capgemini and their business and technology partners for the GenAI transformation journey.”

The last 12 months have seen a significant increase in client interest in the revolution of business process services driven by agentic AI, Ezzat said.

“We are convinced that intelligent operations, which is a consulting-led approach to transform and operate business processes leveraging GenAI and agentic AI, will be the primary showcase for agentic AI in terms of value creation,” he said. “This is about making GenAI and agentic AI real for our clients.”

Business process services, or BPS, have over the last 20 years shifted from a focus on cost reduction to things like robotic process automation and digital platforms, Ezzat said.

“Intelligent operation is the next revolution in the BPS market,” he said. “It includes consulting-led business process transformation, leveraging GenAI and agentic AI. It provides clients with efficiency, speed, and agility through process hyper automation at scale while significantly improving business outcomes by combining data, AI, and digital. Client focus has shifted from cost and efficiency to agility, speed, and significantly better business outcomes. This is about value creation. In parallel, the BPS market is shifting away from its labor-based drivers to being consulting-led and tech-driven.”

Intelligence operation requires strategy and transformation, consulting, deep technology expertise, and in-depth knowledge of horizontal and sector processes to deliver end-to-end process transformation, blending advanced agentic AI agents, custom GenAI assistance, enterprise data, data platform and management, and digital solutions, Ezzat said.

“Capgemini has essentially all the ingredients to answer its clients’ need for intelligent operation,” he said. “It is about scaling BPS. It’s about industry knowledge. It’s about leading in intelligent operation. This is the real strategic value of this transaction.”

WNS is a global leader in digital business process services operating at scale with deep industry and process expertise, with offerings powered by a comprehensive stack of solutions and platforms and fueled by a set of data and analytics solutions, Ezzat said.

“Their vertical industry specific expertise supports over 40 percent of their revenue, while data and analytics contributes 13 percent, underscoring WNS’ commitment to data and insight-led business process transformation,” he said.

WNS and its 65,000 employees serve a blue-chip client base with clients including United Airlines, U.K.-based Centrica, MNC Bank, and McCain Foods, Ezzat said. Nearly half the company’s revenue comes from North America, he said.

“WNS brings deep industry expertise through outcome-based platforms tailored to key verticals for every industry it serves,” he said. “WNS has developed and deployed proprietary platforms that deliver measurable value to its clients. This includes, for example, WNS Malkom. It’s an end-to-end AI-powered shipment documentation platform. It automates bills of lading, invoices, and consignment notes, turning core manual and error-prone processes into digital workflows. … Malkom intelligent architecture is delivering 40 [percent] to 60 percent productivity gains, ROI of up to four times, and 99 percent data accuracy, also reducing invoicing disputes by 20 percent and cutting documentation cycle times.”

Because of the complementary capabilities, offerings, and clients, the acquisition immediately unlocks cross-selling opportunities, Ezzat said.

“[We will] fully leverage the extensive portfolio of Capgemini service offerings with WNS clients, mainly in the U.S. and the U.K.,” he said. “We also see a great opportunity to leverage WNS’ digital BPS offerings, notably its platform and sector expertise in our client base. You can think about banking and insurance clients, for example, where today we can benefit from their vertical process capabilities.”

The combined company will be differentiated in its data and AI capabilities, Ezzat said.

“We have invested in talent, innovation, and [an] ecosystem of strategic partners,” he said. “Our approach is industry-specific and AI-powered. All these capabilities will be supported by an extended delivery network that brings scale and geographic diversity enabling global reach. Together, we have a unique set of capabilities that enable end-to-end business process transformation.”

The acquisition is strategic to both Capgemini and WNS, Ezzat said.

“We share the same vision of the market and the fast-emerging opportunity around intelligent operation driven by GenAI and agentic AI,” he said. “We are convinced that the complementarity of our capabilities and offerings will position Capgemini as the leader in this fast-emerging intelligent operation market, while providing great cross-selling revenue.”