AudioCodes approved to buy back USD 15m of ordinary shares

Converged voice solutions provider AudioCodes (NASDAQ, TASE: AUDC) has received a court approval to repurchase up to an additional USD 15 million of its Ordinary Shares, NIS 0.01 nominal value, through May 19, 2016, the company said.

The share repurchases will be funded from available working capital.

Share purchases will take place in open market transactions or in privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors.

AudioCodes designs, develops and sells advanced Voice-over-IP (VoIP) and converged VoIP and Data networking products and applications to Service Providers and Enterprises.