Capgemini to Acquire WNS in a $3.3 Billion Cash Deal

Paris-based Capgemini entered a merger agreement on July 7, 2025, to acquire India’s WNS (Holdings) Limited (WNS) in an all-cash deal valued at $3.3 billion.

Deal Structure:

As per the terms of the agreement, Capgemini will acquire WNS for a cash consideration of $76.50 per WNS share, representing a 17.01% premium from the stock’s last close.

Company Profile:

WNS is a digital-led business transformation and BPM company that provides industry-specific solutions, analytics, and outsourcing services to over 600 clients worldwide across sectors like insurance, healthcare, travel, and banking.

Capgemini is a global consulting and technology services company that helps enterprises drive digital transformation, adopt sustainable practices, and modernize operations. With 340,000 employees in over 50 countries, it provides end-to-end solutions across strategy, engineering, AI, cloud, and data.

Deal Details and Timeline:

In April, Reuters reported that WNS Holdings was exploring a sale after attracting acquisition interest from potential suitors, including Capgemini. The stock was trading at $61.49 before the report was made public.

The transaction is expected to be accretive to Capgemini’s normalized EPS by 4% before synergies in 2026 and 7% after synergies in 2027.

The deal is expected to close by the end of the year.

Capgemini has secured 4 billion euros in short-term bridge financing to cover the purchase of securities worth $3.3 billion, settle debts and similar obligations of around $400 million, and redeem an $800 million bond maturing in June 2025. The Group plans to repay this financing using approximately 1 billion euros of its own cash, with the remaining balance to be refinanced through new debt issuance.

Capgemini is paying 2.50 times sales for WNS.

Deal Metrics:

For a more comprehensive understanding of this M&A transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of WNS (Holdings) Limited (WNS) by Capgemini

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Key milestones as the merger progresses, including HSR period expiration, regulatory approvals, shareholder votes, etc.
• News updates and SEC filings related to the deal.
• A history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article