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Westell Tech (WSTL) Approves Repurchase of $10 Million of Its Common Stock

Westell Technologies, Inc., (, a collaborative application service provider located in Aurora, Illinois, announced March 3rd that its board of directors have approved the repurchase of up to a formed collection of $10 million of its Common Stock.

Westell Tech. is a holding company for Westell, Inc and ConferencePlus, Inc. ConferencePlus Inc. is an application service provider that manages and hosts video, IP applications, voice and other back office solutions and services.

Westell Chief Executive Officer, Thomas Mader commented, “Today’s announcement highlights our confidence in our ability to successfully execute our strategic plans. We believe this share repurchase plan is a prudent allocation of capital that will allow us to increase long-term shareholder value while maintaining sufficient flexibility to invest in potential growth opportunities.”

Per the share repurchase agreement, any of the shares repurchased are to be acquired by payment on or before March 3rd, 2010. The repurchase agreement plan states that all repurchases are to be made in open market or via privately negotiated transactions. Factors such as share price, regulatory requirements, economic and market conditions will depend on the amount and timing of any share repurchase and can be discontinued, modified and/or bared at any time.

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