<article><p>While activist hedge fund Elliott Management has exited technology major Cognizant, pharmaceutical company Vivimed Labs, through its unit UQUIFA, is acquiring Hungarian firm Soneas.</p></article>

<p>While activist hedge fund Elliott Management has exited technology major Cognizant, pharmaceutical company Vivimed Labs, through its unit UQUIFA, is acquiring Hungarian firm Soneas.</p>
<h3>Activist hedge fund Elliott Management exits Cognizant</h3>
<p>US-based activist hedge fund<a href="http://dealstreetasia.com/tag/elliott-management"><strong> Elliott Managemen</strong></a><strong>t</strong> has exited <strong><a href="http://dealstreetasia.com/tag/cognizant">Cognizant</a></strong> reaping benefits from a 50 per cent rise in the stock price of the technology major over the last 18 months, according to <strong><a href="https://epaper.timesgroup.com/Olive/ODN/TheEconomicTimes/#" target="_blank" rel="noopener">a report</a></strong> in The Economic Times.</p>
<p>Eliott Management is credited with having changed Cognizant’s business strategy a couple of years ago. In 2016, the investment firm disclosed that it had around 4 per cent stake in Cognizant and asked it to begin paying dividends, institute buybacks and shake up its board. Cognizant complied with those requests, beginning a $3.4-billion capital return programme and replacing three members of the board.</p>
<p>A Cognizant executive told the newspaper that company’s strategy would not change following Elliott Management’s exit.</p>
<p>It was recently reported that Elliot had picked up a small stake in Indian technology giant Wipro Ltd.</p>
<h3>Vivimed Labs&#8217; unit acquires Hungarian firm Soneas</h3>
<p>Pharmaceutical company <strong><a href="http://dealstreetasia.com/tag/vivimed" target="_blank" rel="noopener">Vivimed Labs</a></strong> is acquiring Hungarian contract development and manufacturing firm Soneas for an undisclosed amount.</p>
<p>Vivimed Labs Spain S.L, the parent of UQUIFA S.A, has signed definitive agreements to facilitate the acquisition of Soneas, a contract development and manufacturing company, focused on the innovator pharma and fine chemical sectors.</p>
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<p>UQUIFA, the API business of Hyderabad-based Vivimed Labs, acquired the Soneas from Lochlomond and Euroventures which are both based out of Hungary.</p>
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<p><strong>Also Read:</strong></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-amber-enterprises-pulp-strategy-wipro-94079/" target="_blank" rel="noopener">Hedge fund Elliott Management picks up small stake in Wipro</a></strong></span></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/89470-89470/" target="_blank" rel="noopener">India: Vivimed Labs bags $7.5m additional investment from OrbiMed Asia</a></strong></span></p>


While activist hedge fund Elliott Management has exited technology major Cognizant, pharmaceutical company Vivimed Labs, through its unit UQUIFA is acquiring Hungarian firm Soneas.

India Dealbook: Elliott exits Cognizant; Vivimed unit acquires Hungarian firm

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India Dealbook: Elliott exits Cognizant; Vivimed unit acquires Hungarian firm

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