ENGLEWOOD, Colo.--(BUSINESS WIRE)--
CSG
Systems International, Inc. (NASDAQ:
CSGS), a global provider of interactive transaction-driven solutions
and services, today announced an increase in planned share repurchases
of up to $150 million under its Share Repurchase Program over the next
three years, which represents approximately 20% of the value of its
current outstanding shares. In addition, CSG's Board of Directors has
authorized an additional 7.5 million shares for repurchase, raising the
remaining shares available for repurchase under our existing program to
approximately 9 million. The Company may repurchase the shares in the
open market or in privately negotiated transactions, including through
an accelerated share repurchase plan or under Rule 10b5-1 plan. The
actual timing and amount of share repurchases will be dependent on then
current market conditions and other business-related factors.
"We have an enviable leadership position in the markets we serve and a
solid business model that generates significant cash flows," said Peter
Kalan, chief executive officer and president of CSG International. "Our
long-term relationships with some of the world's leading communications
companies provide us with the visibility into our revenues and the
flexibility to invest in our people, our products, and our clients,
while at the same time return a significant amount of our cash to
shareholders through both share buybacks and dividends."
About CSG International
CSG
Systems International, Inc. (NASDAQ:CSGS)
is a market-leading business support solutions and services company
serving the majority of the top 100 global communications service
providers, including leaders in fixed, mobile and next-generation
networks such as AT&T, Comcast, DISH, France Telecom, Orange, T-Mobile,
Telefonica, Time Warner Cable, Vodafone, Vivo and Verizon. With over 30
years of experience and expertise in voice, video, data and content
services, CSG International offers a broad portfolio of licensed and
Software-as-a-Service (SaaS)-based products and solutions that help
clients compete more effectively, improve business operations and
deliver a more impactful customer experience across a variety of touch
points. For more information, visit our website at www.csgi.com.
CSG International
Liz Bauer, 303-804-4065
Investor
Relations
Liz.bauer@csgi.com
Source: CSG International
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