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Case Conclusion Date: 08.13.2007
Practice Area: Mergers and acquisitions
Description: Fast Search & Transferâ„¢ (OSEAX: FAST.OL) (FASTâ„¢), a leading developer of search technologies, acquired selected assets of Convera Corporation (NASDAQ: CNVR), a leader in information retrieval solutions. Under the terms of the agreement, FAST acquired the assets of Convera's RetrievalWareâ„¢ business which supports a wide range of mission-critical programs at government agencies and commercial enterprises. The acquisition, priced at $23 million, signaled FAST's commitment to expand its presence primarily in the government markets. FAST is headquartered in Norway and is publicly traded under the ticker symbol FAST on the Oslo Stock Exchange. The company operates globally with presence in Europe, the U.S., Asia, Australia, the Americas, and the Middle East