oryucyjofec1482.blogspot.com
Vienna-based Convera (NASDAQ: CNVR) will be After the merger, Patrick Condo, Convera'e CEO, will become the chairman of the andColin Jeavons, Firstlight'as CEO, will become the CEO. Convera's plan of dissolutionh contemplates an orderly wind down of its busineszsand operations. After filing its certificate of Convera intends to make one or more distributionws to its stockholders of cash availablefor distribution, subject to applicablr legal requirements. Convera will then delist its commonj stockfrom Nasdaq. The new compan y will bring together the vertical search technologyh of Convera and the advertising sales and marketiny capabilitiesof Firstlight.
It will have over 60 corporat customer accounts and 120 existing Web sites withapproximately 1,50o0 advertisers. When the mergerd becomes effective, Convera will own 33.3 percent and Firstlighy will own 66.7 percenft of the total outstanding common stocik of thenew company, subject to certain adjustments whicjh may enable Convera to own up to 42 percentg of the new company prioe to the distribution. The mergee is subject to Convera stockholders' approvakl and certain other customaryclosing conditions. The merger is expectef to closethis summer.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment