Technology Industry
Industry: Email Alert RSS FeedFast Search & Transfer ASA acquires Convera Corporation's RetrivalWare Business Unit
Telecomworldwire, April 2, 2007
TELECOMWORLDWIRE-2 April 2007-Fast Search & Transfer ASA acquires Convera Corporation's RetrivalWare Business Unit(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian real-time search solutions provider Fast Search & Transfer ASA said on Monday (2 April) that it has signed a definitive agreement to purchase the assets of the RetrivalWare Business Unit from the US company Convera Corporation (NASDAQ: CNVR).
Fast will pay USD23m in cash for the assets.
The deal is expected to be completed in the second quarter of 2007.
Convera Corporation is headquartered in Vienna, Virginia in the US. The company provides search technologies for professional workers.
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Fast Search & Transfer, headquartered in Oslo, Norway, is a global provider of real-time data search solutions with offices on six continents. The company has some 60 engineers and annual revenues of USD162m. Fast Search & Transfer is listed on the Oslo Stock Exchange and traded under the ticker FAST.
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