Sonus
Networks, Inc. SONS, a global
leader in SIP-based communications, today announced that as part of
the Company's previously announced stock buyback program, it has agreed
to repurchase approximately 3.1 million shares of the Company's common
stock in a privately negotiated transaction with Empire Capital
Management, L.L.C. (“Empire”) at $3.50 per share, the market closing
price on August 23, 2013, for a total purchase price of approximately
$11 million. The Company will pay for the share repurchase using cash on
hand.
Prior to the transaction, as reflected in filings made by Empire with
the Securities and Exchange Commission, Empire owned 30.5 million
shares, or approximately 11%, of the
See full press release
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