June 19, 2012 / 11:16 AM / 5 years ago

Autodesk raises share buyback plan to $1.41 billion

(Reuters) - Design-software maker Autodesk Inc (ADSK.O) extended its share buyback program by up to 30 million.

This is in addition to the 12 million shares that remain under previously authorized share repurchase programs, the company said.

The plan will raise the total share repurchase ability of the company to $1.41 billion, based on its Monday closing price.

In fiscal 2012, Autodesk bought back about 9.7 million shares, the company said.

The authorization does not have an expiration date.

The company, which competes with Adobe Systems Inc (ADBE.O) and Google Inc (GOOG.O), also reaffirmed its second-quarter and fiscal 2013 outlook.

Shares of Autodesk, which has a market value of $7.73 billion, closed at $33.64 on Monday on the Nasdaq.

Reporting by Neha Alawadhi in Bangalore; Editing by Don Sebastian

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