Capgemini closes $3.3B WNS acquisition, anchoring Intelligent Operations unit
Capgemini completed its $3.3B cash acquisition of WNS (Holdings) on 17 October 2025, making the insurance-heavy BPM firm a wholly owned subsidiary and the anchor of Capgemini's new Agentic AI-powered Intelligent Operations business unit.
The deal was announced on 7 July 2025 at $76.50 per share in cash, valuing WNS at roughly $3.3B excluding net debt. The scheme of arrangement was sanctioned by the Royal Court of Jersey on 9 October 2025 and closed eight days later, with WNS delisting from NYSE and consolidating into Capgemini's financials from 17 October. For insurance carriers, the practical implication is that WNS's P&C, specialty, Lloyd's and Life & Retirement BPM practice — 70+ insurance clients, 30M+ claims transactions and $13B+ in claims spend under management per WNS aggregate disclosures — now sits as a carrier-facing front-end to Capgemini's much larger technology and consulting stack. Named WNS references concentrated in the Lloyd's and specialty segment (Mosaic, Canopius syndicate 4444, Apollo) are now Capgemini accounts; account teams, delivery structure, and proprietary IP roadmaps (Triange analytics, Malkom GenAI) enter an integration window expected to run through 2026-2027.