HolidayBlogging

Tag: representing

  • France’s Capgemini to buy WNS for .3bn to improve AI offerings

    France’s Capgemini to buy WNS for $3.3bn to improve AI offerings

    The acquisition comes as Capgemini seeks to expand its AI operations, and WNS will also provide more access to the US market.

    ADVERTISEMENT

    Tech and consultancy group Capgemini has agreed to buy US-listed WNS Holdings Ltd. for $3.3 billion (€2.8bn), according to a statement released on Monday.
    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.

    Related

    Microsoft’s OpenAI gets green light from UK watchdogVisa wants to give artificial intelligence ‘agents’ your credit card

    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.

  • As review finds 'indications' of Gaza human rights breach, how close are EU-Israel trade relations?

    As review finds 'indications' of Gaza human rights breach, how close are EU-Israel trade relations?

    As an EU review finds “indications” that Israel breached its human rights obligations in Gaza, the EU-Israel Association Agreement is now under scrutiny. However, concrete action is not expected to be taken until foreign ministers meet in July.

    As review finds 'indications' of Gaza human rights breach, how close are EU-Israel trade relations?On the other hand, Israel is the EU’s 31st  largest trading partner, representing almost 0.8% of the EU’s total trade in goods in 2024.
    EU imports from Israel were worth €15.9 billion in the same year.

    43.9% of it was machinery and transport equipment, while 18% were chemicals, and 12.1% were other manufactured goods.
    Israel is the EU’s third-biggest trading partner in the Mediterranean, after Morocco and Algeria.

    Can trade be affected by the EU review’s findings?

    The bloc’s foreign policy chief, Kaja Kallas, has stated that the EU will “discuss further measures and come back in July” if Israel doesn’t “improve the situation” in Gaza, after reuniting with the EU’s 27 foreign affairs ministers on 23 June.
    However, a complete suspension of the agreement appears out of the question due to a lack of unanimity among member states.
    Plausible options include the partial suspension of certain provisions related to free trade, research, technology, culture and political dialogue.
    Some options will require the unanimous support of all 27 member states, while others will require a qualified majority, meaning at least 55% of countries representing at least 65% of the bloc’s population.
    Human-rights defenders have also pushed for the suspension of the EU’s trade relations with Israel.
    “Member states in favour of suspending the agreement must use all their diplomatic weight to ensure that opponents of the suspension, including Germany, fully understand the risk of complicity and the cruel toll on Palestinian lives of continued EU inaction,” Amnesty International stated in an open letter on 23 June.
    “If the EU fails to live up to these obligations as a bloc, and seeks to shield itself from its clear legal obligations, its member states must unilaterally suspend all forms of cooperation that may contribute to violations of international law.”