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SolarWinds (SWI) Approves $200M Common Stock Buyback Plan

July 27, 2015 7:00 AM EDT

SolarWinds (NYSE: SWI) announced that its Board of Directors has authorized a share repurchase program for up to $200 million of the company's common stock.

Share Repurchase

"Today's share repurchase announcement highlights the confidence we feel in the size of our market opportunity and our ability to capitalize on it through our strategic vision and disruptive business model," said Kevin Thompson, SolarWinds' President and Chief Executive Officer. "We believe that our strong cash position and free cash generation will enable us to seamlessly execute this repurchase while continuing to aggressively invest in our business in an effort to drive long-term profitable growth and shareholder value," added Thompson.

Repurchases under the program may be made on the open market from time to time at management's discretion in accordance with applicable federal securities laws. The company expects the share repurchase will occur over the next 12 months although the exact timing of repurchases and number of shares of common stock to be purchased will depend upon market conditions and other factors. The company expects to fund the program using a combination of the company's cash on hand, cash generated from operations and borrowings under the company's revolving credit facility. The program may be extended, suspended or discontinued at any time without prior notice.



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