Riverbed Increases Authorized Share Repurchase by $250 Million

Riverbed Technology, Inc. announced that its board of directors approved a $250 million increase to the company’s share repurchase program first announced August 19, 2011.

The total authorized repurchase amount under the program is now $750 million.

“We believe the current share price understates the strength of Riverbed’s long-term growth prospects,” said Jerry M. Kennelly, Riverbed’s CEO. “This expansion of our stock repurchase program underscores the confidence we have in our business, and demonstrates our continued commitment to maximizing value for our shareholders.”

The stock purchases may be made from time to time on the open market in compliance with applicable state and federal securities laws. The timing and amounts of any purchases will be based on market conditions and other factors including price, regulatory requirements and capital availability. The program does not require the purchase of any minimum number of shares and may be suspended, modified or discontinued at any time without prior notice.

Approximately $375 million remains of the newly increased program.

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