Thursday October 19, 4:00 am Eastern Time
Press Release
SOURCE: Novadigm, Inc.
Novadigm Initiates Stock Repurchase Plan
MAHWAH, N.J., Oct. 19 /PRNewswire/ -- Novadigm, Inc. (Nasdaq: NVDM - news), a leading provider of automated software and content management solutions for enterprise and Internet computing environments, today announced that its Board of Directors has authorized the Company to repurchase up to 500,000 of its outstanding common shares. The repurchases may be effected from time to time through solicited or unsolicited transactions in the open market or in privately negotiated transactions. No time limit has been placed on the duration of the share repurchase program. The purchases will be made at times and in amounts as the Company deems appropriate and may be discontinued at any time. The Company intends to use the repurchased shares for issuance upon exercise of employee stock options, purchases under the Company's stock purchase plan, or other corporate purposes.
Commenting on the Board's action, Albion Fitzgerald, the Company's Chairman and Chief Executive Officer, stated, ``The decision to initiate a share repurchase program reflects the Board's confidence in Novadigm's long term growth prospects. Given our strong cash position, we believe that the repurchase of shares at current price levels is an excellent use of our cash.''
About Novadigm
Novadigm is a leading provider of software and content management solutions, for enterprise and Internet computing environments, that enable organizations to reduce software management costs, speed time-to-market, expand marketing channels and open new sources of revenue. Novadigm's suite of integrated products, based on the company's e-wrap(TM) technology, work seamlessly together as the only end-to-end solution that can efficiently, reliably and scalably deploy and manage the full range of today's software and content, personalized for a wide range of computing devices, across virtually any network. Novadigm customers -- Global 1,000 business enterprises, software vendors and service providers -- report software management savings of 80% or more, time-to-market improvements of 70% or more, and reliability typically greater than 99%. For more information on Novadigm, please see www.novadigm.com or call 800-626-6682.
SOURCE: Novadigm, Inc. |
