San Jose, Calif. - Adobe Systems, a developer of Web publishing and business software, said on Monday that its board has authorized the company to buy back another 20 million shares under a new stock repurchase program.

The board also authorized another $500 million to repurchase shares under Adobe's existing program.

As of March 2, Adobe had cash and cash equivalents of approximately $2.3 billion, as well as 603.2 million shares of stock outstanding.

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