Actionable news
All posts from Actionable news
Actionable news in CTSH: Cognizant Technology Solutions Corporation,

Cognizant Buys Mirabeau as Activist Investor Elliott Management Presses for Change

Activist investor Elliott Management sent a lengthy letter to Cognizant Technology Services (CTSH) on Monday, and less than 24 hours later the IT services company tied up a deal to buy digital marketing agency Mirabeau.

Elliott owns more than 4% of Cognizant and is one of the company's top four shareholders. The firm's investment is valued at about $1.4 billion.

On Monday, the activist fund detailed what it dubbed a three-part "value-enhancement plan" for...