The board of technology company Arris has authorised an additional US$150 million (€116 million) in share repurchases of the company’s common stock.
Arris currently has US$19.6 million available under its prior authorisation for share repurchase. Since 2008, the company has repurchased 34.2 million shares at an aggregate cost of US$306.3 million.
“As a result of our fundamental belief in the long-term success of the company, as well as our continued commitment to enhance shareholder value, we concluded that authorising a new program is in the best interest of our shareholders,” said Bob Stanzione, Arris chairman and CEO.
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