Barracuda gets approval for buyback program

Barracuda Networks, Inc. (NYSE: CUDA) said its board of directors has authorized the purchase of up to USD50 million of its common stock through September 30, 2017.

Stock will be purchased from time to time, in the open market or through private transactions, subject to market condition, in compliance with applicable state and federal securities laws.

Barracuda provides cloud-connected security and storage solutions that simplify IT. These powerful, easy-to-use and affordable solutions are trusted by more than 150,000 organizations worldwide and are delivered in appliance, virtual appliance, cloud and hybrid deployments.