eLandia International, Inc. (ELAN) To Repurchase Over 1 Million Shares
eLandia International, Inc. (ELAN.OB), a Florida based information and communications technology company, has announced plans to repurchase up to 3% of the company’s outstanding common stock, representing some 1,200,000 shares. The company’s strong cash position (approximately $52 million) and current low share price helped prompt the decision by the board of directors. Pete Pizarro, Chairman and CEO of eLandia, provided further insight into the move, as well as on the company’s direction, “It reflects the confidence that the board and the management have in eLandia as we continue to fulfill our strategic priority of satisfying the growing demand for Information…