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

http://rpggamestop.com/index.php?a=join
Vienna-based Convera (NASDAQ: CNVR) will be dissolved. Aftedr the merger, Patrick Condo, Convera's CEO, will become the chairman of the board, and Colin Jeavons, Firstlight's CEO, will becomee the CEO. Convera's plan of dissolution contemplates an orderlyg wind down of its business and After filing its certificateof dissolution, Converaw intends to make one or more distributions to its stockholdersx of cash available for distribution, subjecrt to applicable legal requirements. Convera will then delisg its common stockfrom Nasdaq. The new company will bring together the vertical search technology of Convera and the advertisinb sales and marketing capabilitiesof Firstlight.
It will have over 60 corporate customer accounts and 120 existint Web sites withapproximately 1,500 advertisers. When the mergerd becomes effective, Convera will own 33.3 percen t and Firstlight willown 66.7 percent of the total outstandinhg common stock of the new subject to certain adjustments which may enablr Convera to own up to 42 percent of the new companyg prior to the distribution. The merger is subject to Converaq stockholders' approval and certain other customarclosing conditions. The merger is expectee to closethis summer.