This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

TigerLogic Announces Definitive Agreement To Divest Its D3 MDMS Business For Approximately $22 Million To Rocket Software

Stocks in this article: TIGR

IRVINE, Calif., Oct. 16, 2013 /PRNewswire/ -- TigerLogic Corporation, (Nasdaq: TIGR), today announced the signing of a definitive agreement to divest its Multidimensional Database Management Systems ("MDMS" or "D3") business to Rocket Software, Inc. ("Rocket Software") for gross proceeds of approximately $22 million in cash. The sale is expected to close within the fourth calendar quarter of 2013, and is subject to satisfaction of customary closing conditions.

"TigerLogic has evolved rapidly over the last 12 months, and has taken actions designed to capture the fast-growing demand for cloud platforms enabling mobile and social solutions. The sale of the MDMS business is a further step toward our focus on extending the growth and reach of the Postano and Omnis platforms," said Richard Koe, President and CEO of TigerLogic. "The closing of this transaction will allow TigerLogic to concentrate on initiatives that support our vision of enabling brands and companies to integrate curated mobile and social solutions across multiple digital environments. Moreover, the divestiture of the MDMS assets will provide additional resources to support stronger sales growth and further development of our social and mobile businesses."

"This is a logical next step for our business and a strategic decision that should enable the D3 business to flourish as well," continued Koe. "TigerLogic selected Rocket Software because of its knowledge of the MDMS space, and its deep commitment to support our D3 partners and customers. Rocket Software is known for its strong operational expertise, particularly in corporate divestitures that require seamless transfers of significant business operations, which is an imperative for our D3 partners and customers. To that end, we also announce today that John Bramley, TigerLogic's Vice President, Operations, agreed to join Rocket Software, effective upon the closing, as the business executive responsible for managing the development and evolution of D3."

"This is a good and not surprising move for TigerLogic, as it allows them to concentrate their energy and resources on the core, strategic components of their business in order to drive further innovation and growth," said Scott Smith, General Partner, Viant Group, Investment Advisor to TigerLogic in this transaction.

Conference Call:A conference call to discuss the signing of the agreement is set for today at 5:30 p.m. Eastern Time.

The call can be accessed by dialing 1-877-481-4996 (Domestic) or 1-518-444-5106 (International), and by providing the operator the conference ID number 85790465.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs