Avistar Announces Stock Repurchase Program.Business Editors/High-Tech Writers Avistar Communications Corporation (Nasdaq:AVSR (Audio Visual Speech Recognition) Using lip reading software to enhance speech recognition. In noisy environments where a camera can be included, AVSR improves the computer's ability to recognize the speaker's words by visually tracking lip movement and ), the enterprise video company, today announced that its Board of Directors has approved the reactivation reactivation to become active after a period of quiescence or, as in bacterial and viral infections, latency. cross reactivation of a share repurchase plan share repurchase plan A corporation's plan for buying back a predetermined number of its own shares in the open market. Institution of a share repurchase plan derives from management's view that the company has limited outside investment opportunities and approved and implemented in March of 2001. Under that plan, management was authorized to repurchase up to $2.0 million of Avistar stock in the open market from time to time. Actual purchases to date have not been significant. The re-authorization allows management to acquire up to $200,000 dollars under the prior program, as it deems appropriate. Gerald J. Burnett, Avistar's Chairman and Chief Executive Officer, stated, "Our Board of Directors believes that an investment in our own stock, given its current valuation, would be beneficial to the Company and its stockholders." About Avistar Communications Corporation Avistar develops, markets and supports the Avistar vBusiness(TM) integrated suite of video-enabled applications, all powered by the AvistarVOS(TM) software. Avistar integrates video communications into day-to-day business process applications. From the desktop, Avistar delivers TV-quality video calling, recording, publishing, video-on-demand, broadcast, and document sharing. Founded in 1993, Avistar Communications Corporation (Nasdaq:AVSR) is headquartered in Redwood Shores, California Redwood Shores is an upscale and desirable [1] waterfront neighborhood on the San Francisco Peninsula in California. It is located on the eastern edge of Belmont, but is actually part of incorporated Redwood City. , with sales offices in New York and London. Collaboration Properties, Inc Collaboration Properties, Inc. (CPI) is a wholly owned subsidiary of Avistar Communications Corporation. It holds US and foreign patents in the primary areas of presence-based interactions, desktop video, recorded and live media at the desktop, multimedia documents, data sharing, ., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Avistar Communications Corporation, holds a broad portfolio of patents covering the AvistarVOS platform as well as multiple software and hardware video collaboration products. Avistar, Avistar vBusiness, AvistarVOS, and the Avistar logo are trademarks or registered trademarks of Avistar Communications Corporation. |
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