Cognizant to acquire Belcan for ~$1.29B, strengthening ER&D and entering aerospace & defense

COGNIZANT TECHNOLOGY SOLUTIONS CORP

Purchase price: $1.19B cash + 1.47M shares (~$97M); expected close Q3 2024.
Belcan's annualized revenue >$800M; expects >$100M annual revenue synergies within three years.
Deal expected to be accretive to 2026 EPS, broadly neutral to 2025 EPS.
Belcan CEO Lance Kwasniewski to continue leading Belcan as a Cognizant operating unit.
Cognizant plans to increase share repurchase to maintain 2024 share count guidance of 497M.

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