CSG (NASDAQ: CSGS), the trusted partner to simplify the complexity of business transformation in the digital age, has announced that its board of directors has reviewed the company´s capital allocation strategy and authorized a framework it believes will maximize shareholder value, the company said.
Consistent with this framework, CSG has announced it has signed a definitive agreement to acquire Forte Payment Systems, Inc., a provider of advanced payment solutions, and that the Board has authorized a stock repurchase program under which CSG may purchase up to USD 150 million worth of shares of CSG common stock over the next three years. CSG expects that the acquisition of Forte and the repurchase of CSG stock will be financed through existing cash balances and future free cash flow.
CSG simplifies the complexity of business transformation in the digital age for the most respected communications, media and entertainment service providers worldwide. With over 35 years of experience, CSG delivers revenue management, customer experience and digital monetization solutions for every stage of the customer lifecycle.
Founded in 1998 and headquartered in Allen, Texas, Forte Payment Systems, Inc. is a provider of innovative payment solutions. Offering unique and scalable enterprise-class solutions, Forte helps organizations of all sizes build, manage and perfect the way they take payments. Find out more information at www.forte.net.