Cognizant Technology Solutions Corp at UBS Global TMT Conference Transcript

Jan 22, 2024

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Dec 07, 2022 / 01:20PM GMT
Rayna Kumar - UBS Investment Bank, Research Division - Analyst

Good morning, everyone. I'm Rayna Kumar, and I lead U.S. payment processors and IT services equity research at UBS. I am lucky today to be joined by Cognizant's CEO, Brian Humphries. Brian, thanks for joining us.

Brian Humphries - Cognizant Technology Solutions Corporation - CEO & Director

Good to be here.

Questions and Answers:

Rayna Kumar - UBS Investment Bank, Research Division - Analyst

So let's start with your press release this morning. You just announced that you will be acquiring SAP alliance. Can you talk a little bit about the strategic reasoning behind that acquisition?

Brian Humphries - Cognizant Technology Solutions Corporation - CEO & Director

Yes. So just maybe from a capital allocation framework first, to put it in context, we generate approximately $2 billion of free cash flow per year. We've committed to return about $1 billion of that to shareholders in the form of dividends and

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