Convera folding into U.K. company - Business First of Columbus:

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Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera'sd CEO, will become the chairmann of the board, and Colin Jeavons, Firstlight'a CEO, will become the CEO. Convera's plan of dissolutioh contemplates an orderly wind down of its business and After filing its certificate of Convera intends to make one or more distributions to its stockholdersz of cash availablefor distribution, subject to applicable legal Convera will then delist its common stocki from Nasdaq. The new companu will bring together the verticak search technology of Convera and the advertising sales and marketing capabilities of Firstlight.
It will have over 60 corporate customer accountxs and 120 existing Web sites withapproximately 1,50p advertisers. When the merger becomee effective, Convera will own 33.3 percent and Firstlighy will own 66.7 percent of the total outstandinfg common stock of the new subject to certain adjustments whichu may enable Convera to own up to 42 percentr of the new companh prior tothe distribution. The mergef is subject to Convera stockholders' approvakl and certain other customary closing The merger is expected to closdthis summer.