TechTarget Reveals $20 Million Share Buyback Program

TechTarget, Inc. TTGT disclosed Monday that its Board has authorized a $20 million stock buyback program. Accordingly, it would buy back its own common stock from time to time on the open market or in privately negotiated transactions at prices and in a manner that may be determined by the Board of Directors. A month ago, TechTarget indicated that it commenced a tender offer to buy back 8.0 million shares at $7.75 a share. The tender offer expired on June 8. The company funded its tender offer with its new senior secured credit facility, as well as, available cash on hand. Shares of the company traded at percent on Monday.