Artisoft Inc. announces stock repurchase program.TUCSON, Ariz.--(BUSINESS WIRE)--Feb. 21, 1995--Artisoft Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASFT ASFT Airport Surface Friction Tester ) Tuesday announced that its board of directors has approved a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program under which the company is authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. up to 1 million shares of its outstanding common stock for general corporate purposes. The board has authorized company management to pursue the repurchase program in open market transactions from time-to-time, depending upon market conditions and other factors. The company has approximately 14,320,000 shares currently outstanding. Commenting on the announcement, William C. Keiper, Artisoft's president and chief executive officer, stated, "The repurchase program authorized by the board of directors reflects our confidence in Artisoft's long-term prospects, and our belief that the repurchase program can represent a sound investment for the company." Artisoft Inc. is one of the world's leading suppliers of easy, affordable and safe networking solutions to small and growing businesses. The company offers the award-winning LANtastic network operating system An operating system that is designed for network use. Normally, it is a complete operating system with file, task and job management; however, with some earlier products, it was a separate component that ran under the OS; for example, LAN Server required OS/2, and LANtastic required DOS. as well as network management, backup and multiplatform connectivity systems. Artisoft maintains 10 international offices and distributes its connectivity products in more than 100 countries. For more information about Artisoft or its product line, contact Artisoft Inc. at 2202 N. Forbes Blvd., Tucson, AZ 85745. Sales 800/233-5564. Corporate 602/670-7100. Fax 602/670-7101. CONTACT: Artisoft Inc., Tucson Robert J. Knox, 602/670-7163 602/670-3114 (fax) |
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