Aruba Networks board boosts buyback by $100M

Aruba Networks board approves repurchase of an additional $100M in common stock

Associated Press

SUNNYVALE, Calif. (AP) -- Aruba Networks Inc. said Monday that its board approved the buyback of up to an additional $100 million of its outstanding common stock under its existing stock buyback program.

The wireless communications company said it recently completed its buyback of the initial $100 million of common stock under the program, which was originally authorized in June 2012.

Aruba Networks has 489.4 million shares outstanding, according to FactSet.

Shares of Sunnyvale, Calif.-based Aruba rose 51 cents, or 2.9 percent, to $17.48 in morning trading.

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