SHANGHAI, China, June 5 /Xinhua-PRNewswire-FirstCall/ -- Spreadtrum Communications, Inc. (Nasdaq: SPRD), one of China’s leading wireless baseband chipset providers, today announced that it has completed its share repurchase program. Spreadtrum’s Board of Directors previously authorized a share repurchase program pursuant to a U.S. Securities and Exchange Commission ("SEC") Rule 10b5-1 repurchase plan. During this program, Spreadtrum repurchased approximately 1.78 million ADSs for an aggregate price of $14.9 million. Part of the repurchase was intended to offset the dilutive impact from shares issued to Quorum Systems’ shareholders in conjunction with the Quorum Systems acquisition completed in January 2008.
About Spreadtrum Communications, Inc.:
Spreadtrum Communications, Inc. (Nasdaq: SPRD; the "Company") is a fabless semiconductor company that designs, develops, and markets baseband processor solutions for the mobile wireless communications market. The Company combines its semiconductor design expertise with its software development capabilities to deliver highly-integrated baseband processors with multimedia functionality and power management. The Company has developed its solutions based on an open development platform, enabling its customers to develop customized wireless products that are feature-rich and meet their cost and time-to-market requirements.
