French IT giant Capgemini in talks to acquire India’s WNS Holdings
PARIS, FRANCE — French tech giant Capgemini SE is in advanced discussions to acquire WNS Holdings Ltd., a global outsourcing and analytics firm, Bloomberg reported. Capgemini has reportedly edged out rival bidders and emerged as the most likely buyer.
While no deal has been finalized, and talks could still stall due to market volatility, a transaction may be announced in the coming weeks. Both Capgemini and WNS have declined to comment on the ongoing negotiations.
The potential deal would help Capgemini to expand its footprint in the business process outsourcing (BPO) and artificial intelligence (AI) services space, a sector where WNS has built a strong global presence.
A $3Bn outsourcing powerhouse
WNS Holdings, founded in 1996 by British Airways in Mumbai, was spun out as an independent firm in 2002. Now listed on the NYSE and valued at approximately $3 billion, the company provides business process management, data analytics, and digital transformation services to over 600 clients worldwide—including Coca-Cola, T-Mobile, and United Airlines.
WNS operates in more than 13 countries, including major delivery centers in India, the United States, the United Kingdom, South Africa, and the Philippines.
In the quarter ended December 31, it reported revenue of $333 million and a 17% year-over-year increase in net profit to $48.6 million. The firm recently acquired Houston-based Kipi.ai to bolster its AI and analytics capabilities.
Led by CEO Keshav Murugesh, WNS competes with global IT service providers like Cognizant and Genpact by leveraging a cost-effective offshore model and advanced data solutions.
WNS ranked #22 in the newly launched OA500 2025, an objective index of the world’s top 500 outsourcing companies.
Capgemini’s global expansion strategy
Capgemini, with a market capitalization of about €22.2 billion ($24.7 billion), is a major player in IT services, consulting, and digital transformation.
The company, which placed 5th in the OA500, operates in over 50 countries and specializes in cloud services, software engineering, and enterprise technology integration.
The acquisition of WNS would expand Capgemini’s capabilities in outsourcing and customer experience management—an area seeing increasing demand due to AI integration and data-driven business strategies.
