Convera folding into U.K. company - South Florida Business Journal:

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Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera'e CEO, will become the chairman of the andColin Jeavons, Firstlight'z CEO, will become the CEO. Convera's plan of dissolutiom contemplates an orderly wind down of its business and After filing its certificate of Convera intends to make one or more distributionsx to its stockholders of cash availablefor distribution, subject to applicablw legal requirements.
Convera will then delist its common stock from The new company will bring togethee the vertical search technology of Convera and the advertisinh sales and marketing capabilities of It will have over 60 corporate customer accounts and 120 existinhg Web sites withapproximately 1,500 When the merger becomes effective, Convera will own 33.3 percenty and Firstlight will own 66.7 percenft of the total outstanding commomn stock of the new subject to certain adjustments which may enablee Convera to own up to 42 percent of the new compangy prior to the distribution. The merger is subjecf to Convera stockholders' approval and certain other customarclosing conditions.
The merger is expected to closrthis summer.