Acxiom Corporation Announces $50 Million Stock Repurchase Program

Acxiom Corporation ACXM today announced that the company's Board of Directors has approved a stock repurchase program. Under the program, Acxiom is authorized to repurchase up to $50 million of its outstanding shares of common stock from time to time over the next 12 months in open market or privately negotiated transactions depending on prevailing market conditions and other factors. The repurchase program may be suspended or discontinued at any time. Scott Howe, Acxiom's chief executive officer and president, said, “At the present time, the combination of current market valuations, our cash balances and ongoing cash flow generation lead us to believe that this share repurchase program is an appropriate use of cash, while also providing us adequate flexibility for future initiatives. As we examine and prioritize our opportunities to extend our existing assets and relationships from traditional direct marketing to digital marketing, there will likely be opportunities to increase investments in R&D and examine potential tuck-in acquisitions. We will evaluate all such opportunities according to expected return.”