Fast Search & Transfer (FAST), a developer of search technologies, announced its agreement to purchase selected assets of Convera Corporation, a provider of information retrieval solutions. Under the terms of the signed agreement, FAST will acquire the assets of Convera's RetrievalWare business which supports a wide range of mission-critical programs at government agencies and commercial enterprises. The acquisition, priced at $23 million, signals FAST's commitment to expand its presence primarily in the government markets.

Convera and FAST have also announced that Convera has licensed FAST Ad Momentum, a private-label contextual advertising and monetization platform developed with the support of leading online publishers. FAST Ad Momentum will be integrated with Convera's hosted vertical search solution and its publisher control panel.

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