Capgemini (CGEMY) (FR:CAP) announced a $3.3 billion all-cash deal to acquire U.S.-listed WNS Holdings (WNS). The boards of both companies have unanimously approved the deal, which is expected to be completed by the end of the year, pending regulatory approvals. As a global IT consulting firm, Capgemini provides digital transformation, cloud, AI, and engineering services to clients across various sectors, including finance, manufacturing, and government.
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Details About the Deal
As part of the deal, Capgemini will pay $76.50 per share to acquire WNS, offering a 17% premium over WNS’s closing price on Thursday in New York. Capgemini expects the deal to have an immediate positive impact on revenue growth and operating margins, and it projects adjusted earnings per share (EPS) to increase by 4% in 2026 and 7% in 2027, once synergies are realized.
Overall, Capgemini projects revenue synergies in the range of €100 million to €140 million and expects annual cost and operating model synergies of up to €70 million by the end of 2027.
The deal will be fully funded in cash and does not include WNS’s net financial debt.
Capgemini’s WNS Deal Signals Big AI Ambitions
The acquisition marks one of Capgemini’s biggest deals so far, aimed at strengthening its AI and business process services. As demand for automation and AI grows worldwide, the acquisition will help Capgemini stay competitive in the rapidly changing tech industry.
Mumbai-based WNS provides digital business process services across industries, including customers such as Coca-Cola (KO) and United Airlines (UAL). In March 2025, it strengthened its AI capabilities through the acquisition of AI startup Kipi.ai.
Commenting on the deal, Capgemini CEO Aiman Ezzat said that WNS adds a strong, fast-growing, and profitable business to Capgemini, and it also helps the company to grow its presence in the U.S. market.
Is Capgemini a Good Stock to Buy?
Even though analyst coverage of Capgemini’s OTC listing remains limited, investors may consider its France-listed shares as an investment opportunity. On TipRanks, CAP stock has a consensus Strong Buy rating among eight Wall Street analysts. That rating is based on six Buys and two Holds assigned in the last three months. The average Capgemini stock price target of $176.63 implies a 21.6% upside from current levels.
