Sapient (NASDAQ: SAPE), a leading business consulting and technology services firm, today announced that its Board of Directors has authorized the repurchase of up to $25 million of its common stock over the next two years. Shares repurchased will be held as treasury stock to be used to meet the Company's obligations under its employee benefit plans and for other corporate purposes.
The program does not require the purchase of any minimum or maximum number of shares but sets a limit on the total dollar amount that may be applied for these purposes. Any purchases under Sapient's stock repurchase program may be made from time to time, in the open market, through privately negotiated transactions, through block trades or otherwise. Depending on market conditions and other factors, these purchases may be commenced or suspended at any time or from time to time, without prior notice. As of November 30, 2004, Sapient has approximately 123 million shares outstanding.
About Sapient
Sapient is a leading business consulting and technology services firm that plans, designs, implements, and manages information technology to improve business performance for Global 2000 clients. Sapient was founded in 1991 based on a single promise: to deliver the right business results, on time and on budget. Sapient's fixed-price/fixed-time model, combined with industry, design, technology, and process expertise, provides clients with the highest business value at the lowest total cost of ownership. Headquartered in Cambridge, Massachusetts, Sapient has offices in Canada, Germany, India, the United Kingdom, and the United States. More information about Sapient can be found at www.sapient.com.
Sapient is a registered service mark of Sapient Corporation.