[Techtaffy Newsdesk]

Seagate’s board has authorized a repurchase of up to $2.5 billion of its outstanding ordinary shares. Seagate currently has a total authorized unutilized capacity for repurchases of approximately $3.5 billion under these authorizations.

Seagate expects to fund the share repurchase through a combination of cash on hand, future cash flow from operations and potential alternative sources of financing.

[Image Courtesy: Seagate]