WATERLOO, ON, Jan. 12, 2012 /CNW/ - Sandvine Corporation (TSX:SVC)
(AIM:SAND) ("Sandvine") today announced that its Board of Directors has
approved the adoption of an open market stock buyback program for the
purchase of up to approximately 12 million common shares ("Shares")
over a one-year period, expected to commence in January, through a
normal course issuer bid over the Toronto Stock Exchange (the "TSX").
The program is subject to obtaining requisite regulatory approvals.
"We are confident in Sandvine's opportunity and believe that the shares
repurchased will enhance shareholder value in the long-term," said Dave
Caputo, Sandvine's President and CEO.
The actual number of Shares purchased, the timing of purchases and the
price at which the Shares are bought will depend upon future market
conditions, and upon potential alternative uses for Sandvine's cash
resources. Any purchases will be made by Sandvine at the prevailing
market price of the Shares at the time of purchase. As at January 11,
2012, Sandvine had 138,121,457 Shares issued and outstanding.
Sandvine's network policy control solutions focus on protecting and
improving the quality of experience on the Internet. Our award-winning
network policy control equipment and software helps fixed and mobile
operators better understand network traffic, manage network congestion,
create new services and revenues, mitigate traffic that is malicious or
undesirable to subscribers, deliver QoS-prioritized multimedia services
and increase subscriber satisfaction. With over 200 service provider
customers in over 85 countries, serving hundreds of millions of
broadband and mobile data subscribers, Sandvine is enhancing the
Internet experience worldwide. For more information, please visit: www.sandvine.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute
forward-looking information within the meaning of securities laws.
Forward-looking information may relate to our future outlook and
anticipated events or results and, in some cases, can be identified by
terminology such as "may", "will", "should", "expect", "plan",
"anticipate", "believe", "intend", "estimate", "predict", "potential",
"continue" or other similar expressions concerning matters that are not
These statements are based on certain factors and assumptions including
expected growth, results of operations, performance and business
prospects and opportunities. While we consider these assumptions to be
reasonable based on information currently available to us, they may
prove to be incorrect.
Forward looking-information is also subject to certain factors,
including risks and uncertainties, that could cause actual results to
differ materially from what we currently expect. These factors include
changes in market and competition, governmental or regulatory
developments and general economic conditions.
SOURCE Sandvine Inc.
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