ACT Networks to Buy Back $10 Million in Stock

The board of directors for ACT Networks in Camarillo has approved a program to repurchase up to $10 million worth of the company’s outstanding common stock.

Subject to price and market conditions, the purchases will be made from time to time in open-market transactions using the company’s available cash balances.

“We believe that repurchase of our stock is an attractive opportunity for the utilization of our available cash,” said Martin Shum, chairman, president and chief executive officer.

ACT Networks develops and manufactures wide-area network access products for voice, data and integrated network systems.