NEC announces Acquisition
2012-03-27![NEC announces Acquisition NEC announces Acquisition](https://varindia.com/public/index.php/storage/news/uploads/2012/03/nec_logo3.gif)
NEC Corporation has announced a definitive agreement to acquire Convergys Corporation's Information Management (IM) business, delivering Business Support Systems (BSS) transformations to communications service providers around the world. The transaction is valued at US$449 million and covers all of IM's business.Following the acquisition, the IM business and organization will be integrated into NetCracker Technology Corporation, a subsidiary of NEC. NetCracker is said to be responsible for all business operations of the combined entity. With this acquisition, NetCracker will add key BSS software and services to its Telecom Operations and Management Solutions (TOMS) suite. The combination of IM's BSS products and NetCracker's TOMS solutions will create a compelling end-to-end portfolio that will bring experience and innovation to service providers and other industry verticals.
Dr. Nobuhiro Endo, President, NEC said, "Convergys' IM business has distinguished itself with a record of successful BSS implementations and exceptional professional services for leading international communications carriers. The acquisition of the IM business will enable NEC to bring even greater value and benefits to the service provider industry."
Andrew Feinberg, President & CEO, NetCracker said, "Innovative BSS is the foundation of differentiation and long-term success, as service providers increasingly compete by offering new, unique services and customer experience as opposed to connectivity alone. With over 2,500 skilled and experienced industry experts and more than 150 customers around the globe, the IM business is at the leading edge of innovation in revenue management and customer experience. We are excited to have this end-to-end offering as a part of NetCracker's portfolio and look forward to bringing it to service providers and other industry verticals."
The acquisition is scheduled to be completed by late second quarter of 2012.UBS Investment Bank acted as exclusive financial advisor to NEC/NetCracker.
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