ReachLocal Announces Increase of Share Repurchase Program
WOODLAND HILLS, Calif. -- December 13, 2012
ReachLocal, Inc. (NASDAQ:RLOC), a leader in local online marketing solutions
for small- and medium-sized businesses (SMBs), today announced that its Board
of Directors has amended its previously announced share repurchase program to
increase the total authorized repurchase amount by $6 million, to a total
authorization of $26 million.
With this amendment, the remaining amount available for the repurchase of
ReachLocal’s common stock under the repurchase program is approximately $10
million. Purchases will be made from time-to-time in open market or privately
negotiated transactions as determined by ReachLocal’s management. The amount
and timing of the share repurchases will depend on business and market
conditions, stock price, trading restrictions, acquisition activity, and other
factors. The repurchase program does not obligate ReachLocal to acquire any
particular amount of common stock, and the repurchase program may be suspended
or discontinued at any time at ReachLocal’s discretion.
About ReachLocal, Inc.
ReachLocal, Inc.’s (Nasdaq:RLOC) mission is to help small- and medium-sized
businesses (SMBs) acquire, maintain and retain customers via the Internet.
ReachLocal offers a comprehensive suite of online marketing solutions
including search engine marketing (ReachSearch™), Web presence (ReachCast™),
display retargeting (ReachRetargeting™), display advertising (ReachDisplay™),
online marketing analytics (TotalTrack®) and assisted chat service
(TotalLiveChat™), each targeted to the SMB market. ReachLocal delivers this
suite of services to SMBs through a combination of its proprietary technology
platform and its direct, “feet-on-the-street” sales force of Internet
Marketing Consultants and select third-party agencies and resellers.
ReachLocal is headquartered in Woodland Hills, CA, with offices throughout
North America and in Australia, the United Kingdom, Germany, the Netherlands
and Japan. Subscribe to ReachLocal’s free newsletter to receive news, tips,
and other online marketing insights.
The Blueshirt Group
Alex Wellins, 415-217-5861 (Investor Relations)
Jason Treu, 214-294-0307 (Media)
Vice President of Public Relations
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