Santa Rosa-based Keysight Technologies announced Tuesday it will buy back up to $350 million of its common stock.

The electronic measurement company said its board of directors authorized the new share repurchase program. It replaces a similar program from 2016 that was suspended when the company last year agreed to pay $1.6 billion for networking and data tech business Ixia.

Keysight President and CEO Ron Nersesian said in a statement that officials are “pleased to be in a position to return capital to shareholders through a new $350 million share repurchase program.”

“Shares may be purchased from time to time, subject to general business and market conditions and other investment opportunities, through open market purchases, privately negotiated transactions or other means,” the company said in a press release. The company last week reported cash assets on Jan. 31 of $980 million, an increase of $172 million from Oct. 31.

Robert Digitale