VocalTec Communications Ltd. (CALL) Announces $12M Stock Repurchase Program
The merger of VocalTec Communications Ltd., inventor of VOIP and the softphone, and YMAX Corp., the creator of magicJack and various products and services, resulted in an emerging entity with access to more than 30 patents. The company’s stated mission is to become the leading provider of global voice over many platforms. VocalTec recently announced a stock repurchase program in which the company may purchase up to $12 million of its common stock through the next 12 months, bought with positive cash flow from operations and $40 million in cash and securities on hand. The timing and actual number of…