KING OF PRUSSIA, Pa.-InterDigital Communications Corp.’s board of directors approved the repurchase of up to 1.5 million shares of the company’s outstanding common stock, the company said.
“We believe that InterDigital’s stock is undervalued at current price ranges and does not reflect our potential,” said InterDigital Chairman Harry Campagna. “In 1998 alone, we signed our third [broadband Code Division Multiple Access] alliance partner, added three new [Time Division Multiple Access] patent licenses, announced field trials of B-CDMA technology with our partners and on our own, and reported the strongest quarter in our history.
“The board believes that an investment in our own business is a very appropriate one,” Campagna stated.
InterDigital develops and markets wireless telecommunications systems using proprietary technologies for voice and data communications, and is focused on commercializing its new B-CDMA technology.
