Intel and Excalibur Call New Company

It's been a slow process but Intel and Excalibur seem to be going somewhere finally.

Back in May 2000, Intel ( http://www.intel.com) and Excalibur (http://www.excalib.com) announced they were going to form a new digital media company. Excalibur said it was turning over its entire company while Intel contributed its Interactive Media Services division to this new venture. But details about this announcement were scarce.

Today, the companies finally announced a name for the new publicly traded company: Convera Corp.

Also decided today were the five board of directors:. Gerhard H. Parker, executive VP, Intel, Andrew D. Bryant, senior VP, Intel, and Herbert A. Allen, president and CEO, Allen & Company were named as designees.

In addition, Ronald J. Whittier, senior vice president, Intel and proposed chairman and CEO of Convera, and Patrick C. Condo, president and CEO, Excalibur Technologies and proposed president and COO of Convera, have been designated as directors of the Convera Board.

Excalibur shareholder approval is expected to be completed later this fall.