March 14, 2018 / 10:18 AM / in 3 months

BRIEF-Cognizant Launches $300 Million Accelerated Share Repurchase

March 14 (Reuters) - Cognizant Technology Solutions Corp :

* COGNIZANT LAUNCHES $300 MILLION ACCELERATED SHARE REPURCHASE

* COGNIZANT LAUNCHES $300 MILLION ACCELERATED SHARE REPURCHASE

* COGNIZANT TECHNOLOGY- ‍ACCELERATED SHARE REPURCHASE AGREEMENT WITH SOCIETE GENERALE TO REPURCHASE AGGREGATE OF $300 MILLION OF CO’S CLASS A COMMON STOCK​

* WILL FUND ASR PROGRAM ON MARCH 14, 2018 FROM CASH ON HAND AND ITS EXISTING CREDIT FACILITY

* ASR AGREEMENT IS A CONTINUATION OF ITS PREVIOUSLY ANNOUNCED $3.4 BILLION CAPITAL RETURN PLAN

* ‍UNDER TERMS, ABOUT 3.04 MILLION OF SHARES TO BE REPURCHASED WILL BE RECEIVED BY COGNIZANT ON MARCH 14, 2018​ Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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