UPDATE: TigerLogic Reports Definitive Deal to Divest D3 MDMS Unit to Rocket Software for $22M

TigerLogic Corporation,

, 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.