ZoomInfo Announces $100 Mln Share Buyback

Washington-based software business ZoomInfo (ZI) on Tuesday announced a share repurchase program of up to $100 million of its shares.

Commenting on the plan, CEO Henry Schuck said, "Based on our continued success generating a strong combination of growth, profitability, and free cash flow at scale, we have the opportunity to invest in the business and enhance shareholder value through a share repurchase program."

The company intends to fund repurchases from available working capital and cash provided by operating activities.

The timing, as well as the number and value of shares of Common Stock repurchased under the program, would be determined by the Company at its discretion.

Shares of ZoomInfo are currently trading in pre-market at $21.42, down $0.43 or 1.97 percent from the previous close.

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