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

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Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Convera's CEO, will become the chairman of the andColin Jeavons, Firstlight's CEO, will become the CEO. Convera'sx plan of dissolution contemplates an orderly wind down of its businesaand operations. After filing its certificate of dissolution, Converqa intends to make one or more distributionss to its stockholders of cash available for subject to applicablelegal requirements. Convera will then delist its common stockfrom Nasdaq. The new company will bring together the vertical search technology of Convera and the advertisingg sales and marketing capabilitiesof Firstlight.
It will have over 60 corporatew customer accounts and 120 existing Web sites withapproximatelu 1,500 advertisers. When the merger becomes Convera willown 33.3 percentg and Firstlight will own 66.7 percent of the total outstanding commoh stock of the new company, subject to certain adjustments which may enablee Convera to own up to 42 percenyt of the new company prior to the The merger is subject to Convera stockholders' approval and certain other customary closing The merger is expected to closd this summer.