PITTSBURGH, Feb. 27, 2012 /PRNewswire/ -- ANSYS, Inc. (NASDAQ: ANSS) today announced that its Board of Directors has approved an increase to its authorized share repurchase program to a total of up to 3 million shares.
"This increase to the number of shares authorized for repurchase reflects our commitment to the creation of long-term stockholder value," said Jim Cashman, president and chief executive officer.
Share repurchases may be made by the Company from time to time in open market transactions at prevailing market prices. The actual timing, number and value of shares repurchased under the program will be determined by management in its discretion and will depend on a number of factors, including, among others, the availability of stock, general market and business conditions, the trading price of the stock and applicable legal requirements. The Company has no obligation to repurchase any shares under the authorization, and the repurchase program may be suspended, discontinued or modified at any time for any reason.About ANSYS, Inc. ANSYS brings clarity and insight to customers' most complex design challenges through fast, accurate and reliable engineering simulation. Our technology enables organizations -- no matter their industry -- to predict with confidence that their products will thrive in the real world. Customers trust our software to help ensure product integrity and drive business success through innovation. Founded in 1970, ANSYS employs more than 2,200 professionals, many of them expert in engineering fields such as finite element analysis, computational fluid dynamics, electronics and electromagnetics, and design optimization. Headquartered south of Pittsburgh, U.S.A., ANSYS has more than 60 strategic sales locations throughout the world with a network of channel partners in 40+ countries. Visit www.ansys.com for more information. Financial: ANSS-F