Group 1: Company Overview - Teleperformance (TP) has been ranked 2 in the Everest Group's BPS Top 50™ 2025 list, improving one position from the previous year, highlighting its market leadership and consistent delivery [1] - TP's comprehensive service portfolio includes customer experience management, finance and accounting, and other key industries, reflecting its diversified offerings [3][5] - In 2024, Teleperformance reported consolidated revenue of €10,280 million (approximately US$11 billion) and a net profit of €523 million, indicating strong financial performance [5] Group 2: Industry Insights - The global third-party Business Process Services (BPS) industry is valued at nearly $300 billion, with over 250 providers in the market, showcasing significant market size and competition [3] - The Everest Group BPS Top 50™ list serves as a factual representation of the largest third-party providers, helping enterprises identify scaled-up providers and their functional coverage [2]

Core Insights - Capgemini is set to acquire WNS for $76.50 per share, totaling $3.3 billion, which represents a premium of 28% over the last 90-day average share price [2][5] - The acquisition is expected to enhance Capgemini's normalized EPS by 4% in 2026 and 7% in 2027 post-synergies [2][20] - The transaction has been unanimously approved by the boards of both companies and is anticipated to close by the end of the year [5][22] Strategic Rationale - The acquisition aims to create a leader in Intelligent Operations, leveraging Agentic AI to transform business processes [3][12] - Capgemini will gain scale and vertical expertise to capitalize on the shift from traditional Business Process Services (BPS) to AI-powered operations [3][5] - WNS's high-growth Digital BPS will enhance Capgemini's service offerings and increase its presence in the US market [4][10] Financial Impact - The combined entities are projected to generate revenues of €1.9 billion in Digital BPS by 2024 [10] - WNS has shown a consistent revenue growth of approximately 9% over the last three fiscal years, reaching $1,266 million in fiscal year 2025 with an 18.7% operating margin [8][9] - Capgemini expects revenue synergies of €100 million to €140 million and cost synergies of €50 million to €70 million by the end of 2027 [20] Market Positioning - The acquisition positions Capgemini to meet the growing demand for AI-driven business process transformation, addressing client needs for efficiency and agility [3][12] - The combination of Capgemini and WNS will create a robust platform for innovation and growth, enhancing their competitive edge in the market [6][17] - Both companies share a vision for Intelligent Operations, which will facilitate a smooth integration and unlock new opportunities for clients [6][21]