AremisSoft Rises on Buyback - TheStreet

AremisSoft Rises on Buyback

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AremisSoft (AREM) was up 8.7% in midafternoon after it raised its stock buyback plan to 4 million shares from 1 million.

The software company also approved a recapitalization under which each common share would be exchanged for new Class A stock.

After Thursday's close, the company said it scrapped a plan to invest in Cyprus'

Globalsoft.com

, saving the $109 million that had been dedicated to the deal.