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

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Vienna-based Convera (NASDAQ: will be dissolved. Afteer the merger, Patrick Convera's CEO, will become the chairman of the board, and Colin Firstlight's CEO, will become the CEO. Convera'z plan of dissolution contemplates an orderlyg wind down of its business and operations. After filing its certificate of Convera intends to make one or more distributions to its stockholderss of cash availablefor distribution, subject to applicable legal Convera will then delist its common stock from The new company will bring togethe r the vertical search technology of Convera and the advertisinvg sales and marketing capabilities of Firstlight.
It will have over 60 corporats customer accounts and 120 existing Web sitesz withapproximately 1,500 advertisers. When the merger becomes Convera willown 33.3 percent and Firstlight will own 66.7 percent of the totalo outstanding common stock of the new subject to certain adjustments which may enable Convera to own up to 42 perceny of the new company prior to the distribution. The merger is subjec t to Convera stockholders' approvao and certain other customary closing The merger is expected to closwethis summer.