Progress Software (PRGS +6.1%) pops after announcing a deal to sell 4 product lines to private...

|About: Progress Software Corporation (PRGS)|By:, SA News Editor

Progress Software (PRGS +6.1%) pops after announcing a deal to sell 4 product lines to private software firm Trilogy Enterprises for $114M. Progress says the product lines have generated $83M in sales this year, and that their divestment will leave only two more lines to be sold as part of the company's efforts to rid itself of "non-core" offerings. (CEO resignation/guidance withdrawal)