Germany's Software AG begins share buyback on Tuesday

FRANKFURT Mon Feb 11, 2013 6:32pm EST

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FRANKFURT Feb 12 (Reuters) - Germany's second largest software maker, Software AG, will start buying back shares worth up to 180 million euros ($240.82 million) commencing Tuesday, the company said late on Monday.

"Based on the Xetra closing rate (on Feb. 11), this equates to a volume of up to ca. 6.175 million shares," it said in a statement.

It added that the executive board can at any time suspend and resume the share buyback programme, which was announced on Thursday. ($1 = 0.7474 euros) (Reporting By Christiaan Hetzner; editing by Andrew Hay)

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