Business

Mass. movers

Acme Packet rises on buyback

Andrew D. Ory is the CEO and president of Acme Packet.

Essdras M Suarez/Globe staff/File

Andrew D. Ory is the CEO and president of Acme Packet.

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Shares of Bedford-based Acme Packet Inc. rose after the networking gear maker’s board approved a plan to buy back up to $200 million of its common stock. The program goes into effect on July 31, and will run through July 31, 2013, unless it is terminated by the board, the company said. Acme Packet said in a statement it had $401.3 million in cash and equivalents and about 68.3 million common shares outstanding as of March 31.

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