Convera Corporation Announces Stock Repurchase Program.Business Editors VIENNA, Va.--(BUSINESS WIRE)--Oct. 4, 2001 Convera Corporation Convera was formed in December 2000 by the merger of Intel's Interactive Services division and Excalibur Technologies Corporation. Until 2007, Convera's primary focus was the enterprise search market through its flagship product, RetrievalWare, which is widely used within the secure (Nasdaq:CNVR CNVR Conveyor ), a leading provider of software products that access unstructured information for the enterprise and government markets, announced today that its board of directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to $10 million of the Company's common stock. The Company may repurchase the shares in the open market, through block trades or in privately negotiated transactions, from time to time at prices deemed appropriate by the Company. The timing and amount of any shares repurchased will be determined by the Company's management based on its evaluation of market conditions and other factors. The repurchase program may be suspended or discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: at any time without prior notice. "We have tremendous confidence in the future of Convera, and believe that our stock price does not reflect the Company's long-term value," said Pat Condo, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Convera. About Convera Convera, the company formed when Excalibur Technologies combined with Intel's Interactive Media Services division, is a leading provider of innovative software products that manage multimedia digital content. Convera's advanced technologies, products, services and solutions empower content owners to extract value from their high-worth digital content--text, images and video--over the Internet, intranets, set top boxes and wireless devices. Convera serves nearly 750 customers in 29 countries from its offices throughout the U.S. and Europe. For more information, contact Convera at 800/788-7758, via e-mail at info@convera.com or on the Web at www.convera.com. The following are worldwide trademarks of Convera Corporation or its subsidiary Convera Technologies, Inc.: Convera(TM), RetrievalWare(R), Screening Room(R) and their respective logos. This release contains comments about Convera's future expectations, performance, plans and prospects as well as assumptions about future events. The reader is cautioned not to put undue reliance on these forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , as these statements are subject to numerous factors and uncertainties, including without limitation, business and economic conditions, continued success in technological advances, and the risk that the businesses that were merged to create Convera, the Interactive Media Services Division of Intel Corporation (company) Intel Corporation - A US microelectronics manufacturer. They produced the Intel 4004, Intel 8080, Intel 8086, Intel 80186, Intel 80286, Intel 80386, Intel 486 and Pentium microprocessor families as well as many other integrated circuits and personal computer networking and Excalibur Technologies, Inc., will not be integrated successfully. Actual results may differ materially from our expectations as the result of these and other important factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Convera's business and product development efforts, which are further described in Convera's and Excalibur's filings with the Securities and Exchange Commission. These filings can be obtained from the SEC's website located at www.sec.gov. Any forward-looking statements are based on information available to Convera on the date of this release, and Convera assumes no obligation to update such statements. |
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