Check Point Software Technologies Ltd. (NasdaqGS:CHKP) announces a share repurchase program. Under the program, the company will repurchase up to $1,500 million worth of its outstanding shares. The repurchases will take place in the open market or in privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors.

Such repurchases will be made in accordance with applicable U.S. securities laws and regulations. The repurchases will be funded from available working capital. For all or portion of the authorized repurchase amount, Check Point may enter into a plan that is compliant with Rule 10b5-1 of the United States Securities Exchange Act of 1934 that is designed to facilitate these purchases.

The company may repurchase quarterly 25% of its outstanding shares up to $250 million. The repurchase program does not require Check Point to acquire a specific number of shares, and may be suspended from time to time or discontinued. As of December 31, 2014, Check Point has approximately 183,800,000 shares of common stock outstanding.