Excalibur To Provide Video Content Management Technologies as Part of Intel-NBA Deal Announced Today
Intel Contract With NBA To Be Assigned To Convera Corporation- The New Company being formed by Intel and Excalibur
VIENNA, Va.--(BUSINESS WIRE)--Sept. 13, 2000-- Excalibur Technologies Corporation (NASDAQ:EXCA - news) announced today that Excalibur's video content management technologies, including Excalibur Screening Room®, will become part of a solution delivered by the newly named Convera Corporation to the National Basketball Association (NBA) as part of an agreement announced today by Intel and the NBA.
Intel and the NBA announced today that they have entered into an agreement whereby Intel and the NBA will develop and distribute interactive NBA content, ultimately including enhanced broadband programming and interactive game broadcasts.
Intel intends to assign the agreement to Convera Corporation, a new company it is forming with Excalibur, upon completion of the Intel-Excalibur transaction later this fall. As part of the NBA agreement, the NBA will receive a 10% equity stake in Convera. The transaction with the NBA is subject to certain conditions, including approval by the NBA Board of Governors.
Convera will combine technologies and services it receives in the Intel-Excalibur transaction to create an end-to-end solution for the NBA, including indexing, search and retrieval of rich content, content protection and other key technologies necessary for the secure delivery of content online.
The initial products to be developed under the Intel-NBA agreement and assignable to Convera will enable users to access customized NBA and WNBA highlights and classic moments through NBA.com, WNBA.com and the leagues' 45 team Web sites.
Intel and Excalibur announced May 1 that they would form the new company recently named Convera Corporation, specifically to enable owners of branded high-value content such as the NBA to produce and securely sell their audio, video and other forms of content over the Internet.
The transaction is subject to customary closing conditions, including regulatory review and Excalibur shareholder approval, and is expected to close later this fall. Upon closing, Excalibur shares will be exchanged on a one-for-one basis for shares in Convera Corporation. Plans for the new company focus on achieving a leading role in web-based interactive media services.
About Excalibur Technologies Corporation
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.
Contact Excalibur at 800/788-7758 or 703/761-3700, via e-mail at info@excalib.com or visit the company web site at www.excalib.com.
For additional information on Excalibur Screening Room, visit the Excalibur Web site at excalib.com.
The Excalibur logo and the following are worldwide registered trademarks of Excalibur Technologies Corporation: Excalibur Technologies Corp.®, RetrievalWare®, ScreeningRoom®, WebExpress® and their respective logos are trademarks of Excalibur Technologies Corporation. |
