Echo Global Logistics (ECHO) Announces $50M Stock Buyback

Echo Global Logistics, Inc. (NASDAQ: ECHO) announced that its Board of Directors has approved a repurchase program for up to an aggregate of $50 million of the Company's outstanding common stock and 2.50% convertible senior notes due 2020, through December 31, 2017.

Under the program, purchases may be made from time to time in the open market, or through privately negotiated transactions, block transactions, or other techniques, as determined by the Company's management and in accordance with prevailing market conditions and the requirements of the Securities and Exchange Commission. The Company expects to fund all purchases from cash on hand, cash available under the Company's revolving credit facility and future cash flows from operations. The Company is not obligated to acquire a particular number of shares or principal amount of convertible notes, and the program may be discontinued at any time at the Company's discretion.

"The repurchase program gives us the option to capitalize on opportunities provided by the market to create additional shareholder value, while maintaining the flexibility to invest in our growth," said Douglas R. Waggoner, Chairman and Chief Executive Officer of Echo. "Today's announcement highlights our belief in the strength of our business."

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