Intel, Excalibur finalize Convera deal

Intel and Excalibur have completed their agreement to combine the business operations of Excalibur and Intel's Interactive Media Services division. As a result, all of Excalibur's outstanding shares have been converted into shares of Convera, a new publicly traded company, and the entirety of Excalibur's business will be folded into the operations of the new company. Intel and Excalibur announced their agreement to form the new company in May 2000.

Plans for Convera focus on empowering content owners to extract value from their high-worth digital content by providing advanced technologies, products and services that allow content to be managed, enhanced and distributed securely over IP-enabled networks--intranets, the Internet, set top boxes and wireless devices.

Under the terms of the transaction, Intel contributed its Interactive Media Services division and invested $150 million in Convera, as well as provided key technologies for content protection. Excalibur contributed its entire business operations to Convera.