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LogMeln announces $50M share repurchase program

LogMeIn announced that its board of directors has authorized a share repurchase program for up to $50M of the company's outstanding common stock. Repurchases under the program may be made from time to time on the open market or in privately negotiated transactions through the end of 2015. The new share repurchase program replaces the company's ongoing $25M repurchase program, originally announced February 14th, under which the company has repurchased shares totaling approximately $16M to date.The company expects to fund the program using the company's cash on hand and cash generated from operations.