SOURCE: iPass

iPass

November 04, 2015 16:05 ET

iPass Authorizes up to $3 Million Stock Repurchase Program

REDWOOD SHORES, CA--(Marketwired - Nov 4, 2015) - Today iPass Inc. (NASDAQ: IPAS), the world's largest Wi-Fi network, announced its Board of Directors has approved the repurchase of up to an aggregate of $3,000,000.00 of its Common Stock. 

"Commencing a share repurchase program demonstrates our commitment to delivering value to our shareholders," said Gary Griffiths, Chief Executive Officer of iPass. "Our new team is gaining traction implementing our new go-to-market plan. The initial success of Unlimited, Everywhere and Invisible combined with our strong financial foundation give us confidence to move forward aggressively with our capital allocation strategy while continuing to invest in growth initiatives."

The repurchases will be made from time-to-time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program is expected to continue through the end of 2016.

About iPass Inc.
iPass delivers global, mobile connectivity as a hosted cloud service, connecting its customers with the people and information that matter the most on all of the devices they choose to carry: smartphones, tablets and laptops. iPass (NASDAQ: IPAS) is the world's largest Wi-Fi network. By the end of 2015, iPass will have 50 million hotspots in airports, hotels, airplanes and public areas in more than 120 countries across the globe. In the rapidly changing technology of Internet connectivity, iPass is the industry pioneer in ensuring businesses have unlimited access to unlimited content.

iPass® is a registered trademark of iPass Inc. Wi-Fi® is a registered trademark of the Wi-Fi Alliance. All other trademarks are owned by their respective owners.