- "This increased share repurchase program reflects the confidence of our Management Team and Board of Directors in LogMeIn's long-term growth strategy and leverages our strong balance sheet and cash flow generation," said Michael Simon, CEO of LogMeIn (NASDAQ:LOGM).
- The new program replaces a $25M program, originally announced February 14, 2013, under which LOGM has repurchased shares totaling ~$16M to date.
- LOGM expects to fund the program using the company's cash on hand and cash generated from operations.
- Source: Press Release