Versant Corp. will sell its catalog business to German-based EMS ePublishing AG for about $1.5 million in cash and about $1.6 million in future royalty payments.
Under the terms of the agreement, EMS will acquire all outstanding stock of Versant subsidiary Poet GmbH, which employs 25 people and owns the assets and liabilities of Versant’s catalog products.
Last March, Fremont, CA-based Versant acquired the catalog business and its X-Solutions product line as part of the merger with Poet Holdings. Versant said it decided to divest the catalog business, as it was not focused on its core database software business.
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