Synopsys (SNPS) Announces $1B Share Buyback

Synopsys, Inc. (Nasdaq: SNPS) today announced that its Board of Directors has approved a new stock repurchase program with authorization to purchase up to $1 billion of common stock.

"We continue to execute very well, balancing our strategic investments to grow the business, expand margins and return capital to shareholders," said Trac Pham, chief financial officer of Synopsys. "This new stock repurchase program with an increased authorization amount of up to $1 billion reinforces our ongoing commitment to generate sustainable, long-term shareholder value."

The program replaces Synopsys' prior stock repurchase program, which was originally approved by Synopsys' Board of Directors in 2002. The stock repurchase program does not obligate Synopsys to acquire any particular amount of common stock, and the program may be suspended or terminated at any time by Synopsys' co-chief executive officers, chief financial officer or the Board of Directors at their sole discretion.

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