France's Capgemini to buy WNS for $3.3bn to improve AI offerings
The French firm said that it is offering $76.50 per WNS share, representing a premium of 17% on the stock's closing price on Thursday. This does not include WNS' financial debt.
Capgemini forecasts that the deal will boost its earnings per share by about 4% on a normalized basis in 2026, rising to 7% in 2027 after combining operations.
The French firm plans to generate additional annual revenues of €100 million to €140mn by the end of 2027 through revenue synergies.
Cost and operating model synergies are also expected to come to €50mn to €70mn per year, before taxes, by the end of 2027.
The acquisition comes as Capgemini seeks to expand its AI operations.
'Capgemini's acquisition of WNS will provide the Group with the scale and vertical sector expertise to capture that rapidly emerging strategic opportunity created by the paradigm shift from traditional BPS (Business Process Services) to Agentic AI-powered Intelligent Operations,' Aiman Ezzat, Chief Executive Officer of Capgemini, said in a statement. 'Immediate cross-selling opportunities will be unlocked through the integration of our complementary offerings and clients,' he added.
As of the end of March, WNS had almost 65,000 employees across 64 delivery centres worldwide.
The firm has a number of major clients, including Coca-Cola, T-Mobile, and United Airlines.
The deal was unanimously approved by the board of the two firms and is expected to close by the end of the year, subject to shareholder and regulatory approval.
At just after 10am CEST, Capgemini's share price was down around 3.5% at 140.10 on Monday morning.
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