Secureworks announces USD 15m stock buyback program

Secureworks® (NASDAQ: SCWX), a global cybersecurity company that protects organizations in the digitally connected world, has announced its board of directors has approved a stock repurchase program, under which the company is authorized to repurchase up to USD 15 million of the company´s Class A common stock through September 30, 2019, the company said.

Repurchases may be made from time to time through open market purchases, privately negotiated transactions or by other means. The timing and amount of any repurchases under the program will be determined by management based upon market conditions and other factors.

The company intends to finance the stock repurchase program with available cash balances. As of August 3, 2018, cash and cash equivalents were USD 103.3 million.

Secureworks combines visibility from thousands of clients, machine learning and automation from our industry-leading Secureworks Counter Threat Platformâ„¢, and actionable insights from its team of elite researchers, analysts and consultants to create a powerful network effect that provides increasingly strong protection.