Convera Corp. (CNVR) on Monday revealed an agreement with Fast Search & Transfer or FAST, pursuant to which FAST will acquire the company's RetrievalWare business for $23 million in cash. As per the terms of the agreement, which will allow the company to focus its technology and professional service resources on the rapidly growing vertical search market serving specialist publishers, FAST will retain Convera professionals serving its enterprise search customers. In addition, the company revealed it recently signed contracts with publishers like John Wiley & Sons, United Business Media, Euromoney Institutional Investor and Centaur Media. The company further noted that it expects to complete the transaction in the second quarter.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.