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Neon Systems Buys Back 9.5% of Its Shares

Neon Systems

(NESY)

, an enterprise system management solution provider, announced that it has repurchased over 900,000 shares of its common stock, amounting to about 9.5% of the outstanding shares.

The company bought the shares on Dec. 21 for $2.90 each. The transaction arose from an unsolicited offer, and the company has no plans to purchase additional stock at this time. The stock will be used in future activity such as acquisitions or funding employee option grants or both.

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Shares of Neon Systems closed up 42 cents to $4.55 Wednesday.