TigerLogic Sells Off Business Unit For $22M

Irvine-based TigerLogic, a developer of application development tools, said Wednesday that it has sold off its Multidimensional Database Management Systems (MDMS) business to Rocket Software, in a deal worth $22M in cash. TigerLogic said the divestiture will help it focus on its cloud-based platforms in the social and mobile business area. TigerLogic was advised by Viant Group in the deal.