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's CEO, will become the chairmab of the board, and Colij Jeavons, Firstlight's CEO, will become the CEO. Convera's plan of dissolutio contemplates an orderly wind down of its busineszsand operations. After filingv its certificate of dissolution, Converw intends to make one or more distributions to its stockholderse of cash availablefor distribution, subject to applicable legall requirements. Convera will then delist its common stock from The new company will brinv together the vertical search technology of Convera and the advertisingb sales and marketing capabilitiesof Firstlight.
It will have over 60 corporate customer accounts and 120 existin g Web sites withapproximately 1,50o0 advertisers. When the merger becomes effective, Convera will own 33.3 percen t and Firstlight willown 66.7 percent of the tota l outstanding common stock of the new company, subjectf to certain adjustments which may enable Convera to own up to 42 percenty of the new company prior to the distribution. The merget is subject to Convera stockholders' approval and certain other customarytclosing conditions.
The mergere is expected to closethis