Intel and Excalibur Technologies Announce Name for New Venture
SANTA CLARA, Calif. & VIENNA, Va.--(BUSINESS WIRE)--Sept. 11, 2000--
Convera Corporation Will Deliver Interactive Media Services;
Company also Names Board Designees
Intel Corporation (Nasdaq: INTC - news) and Excalibur Technologies Corporation (Nasdaq: EXCA - news) today formally announced the name of the new company they will form to deliver interactive media services.
The new company will be named Convera Corporation.
Intel and Excalibur announced May 1 that the two companies would form a new publicly traded company specifically to enable media rich content from organizations such as sports leagues, media and entertainment industry companies, and Global 2000 corporations to be delivered online. The transaction between the two companies is subject to regulatory review. Excalibur shareholder approval is expected to be completed later this fall.
In addition, the two companies announced five designees to the board of directors of Convera. Gerhard H. Parker, executive vice president, Intel Corporation, Andrew D. Bryant, senior vice president, Intel Corporation, and Herbert A. Allen, president and chief executive officer, Allen & Company Incorporated were named as designees. In addition, Ronald J. Whittier, senior vice president, Intel Corporation and proposed chairman and chief executive officer of Convera, and Patrick C. Condo, president and chief executive officer, Excalibur Technologies and proposed president and chief operating officer of Convera, have been designated as directors of the Convera Board. Convera expects to name two additional outside directors.
The mission of Convera is to achieve a leading role in the interactive media services market segment by enabling owners of valuable media assets to extract value from their assets by making them securely available over IP networks - Internet, intranets and extranets.
About Intel Corporation
Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information about Intel is available at www.intel.com/pressroom.
About Excalibur Technologies
Founded in 1980, Excalibur Technologies Corporation (Nasdaq: EXCA - news) is a recognized leader in high-performance, search-powered, multimedia content management solutions for intelligently capturing, indexing, managing, accessing and utilizing valuable digital content - including text, images and video. Excalibur works with Global 2000 corporations, software developers, application service providers and government agencies to power Intranet and Internet solutions, corporate portals and eCommerce sites. Additional information about Excalibur is available at www.excalib.com. |
