Seeking Alpha

LogMeIn Announces $50M Share Buyback Program

  • "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 (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
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