BELLEVUE, Wash.-InfoSpace Inc. said its board of directors has authorized the repurchase of up to $100 million of its outstanding common stock.
InfoSpace said it believes the market price of its stock underestimates the strength of its business. At the end of the first quarter, the company reported cash, cash equivalents and marketable interests of about $384 million with no debt obligations. The company has about 33.2 million common shares outstanding.
