Convera folding into U.K. company - St. Louis Business Journal:

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Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera's CEO, will become the chairman of the andColin Jeavons, Firstlight's CEO, will becomed the CEO. Convera's plan of dissolution contemplates an orderlgy wind down of its busineswsand operations. After filingy its certificate of dissolution, Convera intendsd to make one or more distributiond to its stockholders of cash availablwefor distribution, subject to applicable legal requirements. Convera will then delisy its common stock from The new company will bring together the vertical searcb technology of Convera and the advertisinbg sales and marketing capabilitiesof Firstlight.
It will have over 60 corporate customer accounts and 120 existing Web sites withapproximately 1,5009 advertisers. When the merger becomees effective, Convera will own 33.3 percen t and Firstlight willown 66.7 percengt of the total outstanding common stock of the new subject to certain adjustments which may enablw Convera to own up to 42 percengt of the new company prior to the The merger is subject to Convera approval and certain other customaryh closing conditions. The merger is expected to closrethis summer.