NEC announced a definitive agreement to acquire Convergys Corporation’s information management business, which delivers business support systems (BSS) transformations to communications service providers around the world.
The transaction is valued at $449 million and covers all of IM’s business, including Smart Suite Products, across different verticals including communications, utilities and logistics.
The IM business enabled service providers to transform their BSS and create the foundation for next-generation billing, customer-care and revenue management.
The IM business and organization will be integrated into NEC subsidiary NetCracker Technology Corporation, resulting in an end-to-end portfolio through the cloud, as a managed service, or as an in-premise system.
NEC's carrier business has contributed substantially to NEC’s total net sales of 3,115 billion yen ($37.535 billion) in the financial year which ended March 2011. The unit spearheads NEC’s medium-term goals to further expand its international markets and software services.
The acquisition is scheduled to be completed by late in the second quarter. UBS acted as exclusive financial advisor to NEC and NetCracker.