Convera Corp. (CNVR: Quote)announced the closing of a merger of Convera's operating subsidiaries with Vertical Search Works, Inc., a parent company of Firstlight Online Ltd.,effective on February 9, 2010, pursuant to the previously announced merger agreement.
Upon the merger, Convera owns 33.3% the total outstanding common stock of Vertical Search Works, subject to certain adjustments which may enable Convera to own up to 42% of Vertical Search Works prior to the distribution. The original shareholders of Vertical Search Works own the remaining shares of the new company
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by RTT Staff Writer
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