In-Q-Tel and Convera Sign $1.5 Million Deal

Mar 14, 2003


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In-Q-Tel, a private venture group funded by the Central Intelligence Agency (CIA), and Convera, a provider of search, retrieval, and categorization software, have announced a development and investment agreement that will fund Convera in the development of key technologies and tools to help address the IT challenges facing the Intelligence Community. These products will be made available over the next six months and are applicable to intelligence agencies as well as state and local governments implementing centers for homeland security. In-Q-Tel will pay Convera $1,532,500 for the enhancements to its products.  In conjunction with this transaction, In-Q-Tel will receive two-year warrants to purchase 137,711 shares of Convera common stock.

(http://www.convera.com), (http://www.in-q-tel.org)