Intel and Excalibur Form Convera

Intel and Excalibur announced late Thursday, that they have finalized their combination into a new public company, called Convera.

In May 2000, the two companies announced their plans to combine to form the new company, a combination of Intel's Interactive MediaServices division and Excalibur, a provider of media management services and software.

Convera (www.convera.com) also said it closed a transaction with the National Basketball Association (NBA). It is developing anddistributing interactive NBA content.

All of Excalibur's outstanding shares have been converted into shares of Convera Corporation, which is trading on NASDAQ (CNVR).

Ron Whittier, former senior vice president and general manager of the Interactive Media Services Division at Intel, is chairman and chief executive officer of Convera. Pat Condo, former CEO of Excalibur, is president and chief operating officer of Convera.

The new company has offices throughout the U.S. and Europe with major offices in Virginia, California, Maryland and Oregon.