Cognizant did not disclose the terms of the transaction. Mirabeau works with brands such as KLM, ING, Air France, Maxeda, MoneYou, LeasePlan.com, and Transavia.
In 2015, Elliott successfully pushed software firm Informatica to sell itself to PE buyers and got Citrix's CEO to resign and was given a board seat in that company.
This is the first time an Indian IT firm is facing an onslaught from an activist hedge fund and Elliott has a number of wins under its belt.
The letter critiqued Cognizant’s capital management strategy and called its stance shareholder unfriendly due to the lack of a dividend.
Mindtree would honour campus commitments but that its lateral hiring would likely be made just-in-time to meet growth needs.
TCS is rebuilding its appraisal system. To begin with, some employees will be assessed after a project is completed instead of half yearly.
As a first step, RIL has tied up with General Electric’s industrial-internet-of things platform Predix and will create applications for itself and then sell those applications to other companies.
Mistry alleged on Tuesday that Tata had sought to sell what would eventually grow into the country’s biggest software company to IBM sometime in the 1980s.
Kohli said his heart surgery took place in 1984 and that JRD Tata was interested in his health and progress after the surgery.
The statement from Mistry’s office also said that Ratan Tata had also once approached JRD Tata with a proposal from IBM to buyout TCS.
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