Sonus Networks Announces Privately Negotiated 3.1M Share Buyback @$3.50/Share

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