Convera folding into U.K. company - Triangle Business Journal:

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Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera's CEO, will become the chairman of the board, and Colinb Jeavons, Firstlight's CEO, will become the CEO. Convera' s plan of dissolution contemplates an orderly wind down of its businesszand operations. After filing its certificate of Convera intends to make one or more distributions to its stockholderss of cash availablefor distribution, subjecft to applicable legal requirements.
Converaw will then delist its common stock from The new company will bring together the vertical search technologh of Convera and the advertising salezs and marketing capabilities of It will have over 60 corporate customef accounts and 120 existing Web sites withapproximately 1,50p0 advertisers. When the merger becomes effective, Convera will own 33.3 percentt and Firstlight willown 66.7 percent of the total outstandinv common stock of the new subject to certain adjustments which may enable Convera to own up to 42 perceny of the new company prior to the distribution. The mergere is subject to Convera stockholders' approval and certain othe r customaryclosing conditions.
The merger is expected to closethis