December 14, 2017 / 11:24 AM / 7 months ago

BRIEF-Cognizant Launches $300 Mln Accelerated Share Repurchase

Dec 14 (Reuters) - Cognizant Technology Solutions Corp :

* COGNIZANT LAUNCHES $300 MILLION ACCELERATED SHARE REPURCHASE

* COGNIZANT TECHNOLOGY SOLUTIONS CORP - WILL FUND ASR PROGRAM ON DECEMBER 14, 2017 FROM CASH ON HAND AND ITS EXISTING CREDIT FACILITY

* COGNIZANT TECHNOLOGY - UNDER TERMS OF ASR AGREEMENT, ABOUT 3.58 MILLION OF SHARES TO BE REPURCHASED WILL BE RECEIVED BY COGNIZANT ON DECEMBER 14, 2017

* COGNIZANT TECHNOLOGY - FINAL SETTLEMENT OF TRANSACTION UNDER ASR AGREEMENT IS ANTICIPATED TO OCCUR DURING Q1 OF 2018 Source text for Eikon: Further company coverage:

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