DSP Group, Inc. Announces a Share Repurchase Program
SAN JOSE, Calif., Feb. 7 - DSP Group, Inc. (NASDAQ:DSPG), a worldwide leader in developing and providing chip-set solutions for residential wireless connectivity, announced today that in light of the Company's strong cash position and its focus on shareholder value it has entered into a share repurchase program for up to 5,000,000 shares of its common stock.
The Company's share repurchase program is in accordance with Rule 10b5-1 of the United States Securities Exchange Act of 1934 that is designed to facilitate these purchases.
Under the repurchase program, share purchases may be made from time to time depending on market conditions, share price, trading volume and other factors, and such purchases will be made in accordance with applicable insider trading and other securities laws and regulations.
About DSP Group
DSP Group, Inc. is a fabless semiconductor company, offering advanced chip-set solutions for a variety of applications. DSP Group is a worldwide leader in the short-range wireless communication market, enabling home networking convergence for voice, video and data. By combining its in-house technologies of Digital Signal Processors (DSPs), portfolio of wireless communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a worldwide leader and a one-stop-shop for a wide range of applications. These applications include ISM band digital 900MHz, 2.4GHz and 5.8GHz telephony, European DECT (1.9GHz) telephony, Bluetooth systems for voice, video and data communication and deployment in residential, SOHO, SME, enterprise and automotive applications. DSP Group's ICs provide solutions for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and are widely used in Digital Voice Recorders.
More information about DSP Group is available at http://www.dspg.com/.
FCMN Contact: ofere@dsp.co.il
Source: DSP Group, Inc.
CONTACT: Ofer Elyakim, Vice President of Business Development of DSP Group Inc., +1-408-240-6839, ofere@dsp.co.il
Web site: http://www.dspg.com/
