AudioCodes Ltd. Announces Authorization Of Stock Repurchase Program.Business Editors YEHUD, Israel--(BUSINESS WIRE)--Jan. 10, 2001 AudioCodes (Nasdaq:AUDC AUDC Austin Development Center AUDC Audio Converter AUDC Audio Codec ) today announced that its Board of Directors had approved a program to repurchase up to two million of its Ordinary Shares, NIS Niš or Nish (both: nēsh), city (1991 pop. 175,391), SE Serbia, on the Nišava River. An important railway and industrial center, it has industries that manufacture textiles, electronics, spirits, and locomotives. 0.01 nominal (par) value. The purchases will be made from time-to-time at the discretion of management in open market or privately negotiated transactions. Such purchases would be subject, among other things, to the share price and market conditions and will be made in accordance with all applicable laws and regulations. Shabtai Adlersberg, Chairman of the Board, President and Chief Executive Officer of AudioCodes said, "This share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program represents the confidence we have in the Company and is consistent with management's goal of increasing shareholder value." About AudioCodes Founded in 1993, AudioCodes Ltd. (Nasdaq:AUDC) designs, develops and markets enabling technologies and communication system components for voice over packet networks. The company is a market leader in voice compression Same as speech compression. technology and the key originator of the ITU (International Telecommunication Union, Geneva, Switzerland, www.itu.ch) A telecommunications standards body that is under the auspices of the United Nations. Comprising more than 185 member countries, the ITU sets standards for global telecom networks. G.723.1 standard for the emerging IP Telephony The two-way transmission of voice over a packet-switched IP network, which is part of the TCP/IP protocol suite. The terms "IP telephony" and "voice over IP" (VoIP) are synonymous. market. AudioCodes' product line includes leading edge VoIP communication boards, VoIP media gateway modules, voice over packet chip processors, media gateway subsystems and communications software (communications, software) communications software - Application programs, operating system components, and probably firmware, forming part of a communication system. These different software components might be classified according to the functions within the Open Systems . Its customers-the leading global telecom and datacom OEMs including Alcatel S.A., Cisco Systems, Inc., Clarent Corporation, Lucent Technologies, Siemens, and VocalTec Communications-all feature AudioCoded equipment. AudioCodes' international headquarters and R&D facilities are located in Yehud, Israel, with US headquarters in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. . For more information on AudioCodes, please visit the company Web site at http://www.audiocodes.com/. Except for historical information, the matters discussed in this press release are forward-looking statements. The Company assumes no obligation to update the information in this press release. This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks include, but are not limited to, market demand for the Company's products, economic and competitive factors, international market conditions, technological developments, the ability to finance operations and other factors which are detailed in the Company's SEC filings. Note to Editors: AudioCodes, the AudioCodes logo, AudioCoded, are trademarks or registered trademarks of AudioCodes, Ltd. All other trademarks are property of their respective owners. |
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