Secureworks, a leading global cybersecurity company that protects organizations in the digitally connected world, announced its Board of Directors has approved a stock repurchase program, under which the Company is authorized to repurchase up to $15 million of the Company’s Class A common stock through September 30, 2019.

“We are committed to delivering innovative, technology-led cybersecurity solutions to the market and driving growth in our business. Secureworks has a strong balance sheet and cash flow which enable us to repurchase shares, as well as invest in the long-term growth of the Company. The Board of Directors and management believe that our stock is an attractive investment opportunity and an appropriate use of our capital at this time,” said R. Wayne Jackson, Chief Financial Officer of Secureworks.

Repurchases may be made from time to time through open market purchases, privately negotiated transactions or by other means. The timing and amount of any repurchases under the program will be determined by management based upon market conditions and other factors.

The Company intends to finance the stock repurchase program with available cash balances. As of August 3, 2018, cash and cash equivalents were $103.3 million.