SAN JOSE, Calif., March 12, 2012 (GLOBE NEWSWIRE) -- DSP Group®, Inc. (Nasdaq:DSPG), a leading global provider of wireless chipset solutions for converged communications at home and office, announced today that in light of the Company's strong cash position and its focus on shareholder value it has entered into a share repurchase program for up to 750,000 shares of its common stock.
Ofer Elyakim, CEO of DSP Group, stated, "We believe that the repurchase of shares at or near current price levels represents an attractive investment opportunity for the company and its shareholders."
This share repurchase program is in accordance with Rule 10b5-1 of the United States Securities Exchange Act of 1934 that is designed to facilitate these purchases. As of today, 1,220,000 shares of our common stock remained available for repurchase under our board authorized share repurchase program, of which 750,000 shares are now subject to this share repurchase program.
About DSP Group
DSP Group, Inc. (Nasdaq:DSPG) is a leading global provider of wireless chipset solutions for converged communications at home and office. Delivering semiconductor system solutions with software and reference designs, DSP Group enables OEMs/ODMs, consumer electronics (CE) manufacturers and service providers to cost-effectively develop new revenue-generating products with fast time to market. At the forefront of semiconductor innovation and operational excellence for over two decades, DSP Group provides a broad portfolio of wireless chipsets integrating DECT/CAT-iq, DECT ULE, Wi-Fi, PSTN, BoneTone™ intelligent voice enhancement and noise elimination, video and VoIP technologies. DSP Group enables converged voice, audio, video and data connectivity across diverse consumer and business products – from connected multimedia screens, mobile devices, and home automation & security to cordless phones, VoIP systems, and home gateways. Leveraging industry-leading experience and expertise, DSP Group partners with CE manufacturers and service providers to shape the future of converged communications at home and office. For more information, visit www.dspg.com.
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CONTACT: For more information, please contact
Director of Business Development and Investor Relations
Tel: +1 917 602 2965
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DSP Group, Inc.