February 8, 2017 / 11:09 AM / 9 months ago

Cognizant names three directors to board in deal with Elliott

Feb 8 (Reuters) - IT services provider Cognizant Technology Solutions Corp said on Wednesday it named three directors to its board in a deal with activist shareholder Elliott Management.

Elliott disclosed a more than 4 percent stake in Cognizant in November and had urged the IT services provider to take steps to boost shareholder value.

The company also said fourth-quarter revenue rose about 7 percent to $3.46 billion from $3.23 billion helped by ongoing demand for its cloud services. (Reporting by Rishika Sadam in Bengaluru; Editing by Shounak Dasgupta)

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