Edgewater Technology announced that its Board of Directors has approved an extension of the company's stock repurchase program to Sept. 20, 2013. The repurchase program, which was originally announced in December 2007 and subsequently amended, allowed for the repurchase of up to $13.5M of the company's common stock. The extended repurchase program will increase the amount of the repurchase authorization by $2.6M, from $13.5M-$16.1M. To date, Edgewater has repurchased approximately $11.1M of its shares, leaving a remaining authorization of approximately $5M.
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