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NEC to Acquire Convergys’ Global Information Management (IM) Business
NEC Corporation has announced a definitive agreement to acquire Convergys Corporation’s Information Management (IM) business, which is recognized for its industry-leading record of 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, including Smart Suite Products, across different verticals including communications, utilities and logistics.
Following the acquisition, the IM business and organization will be integrated into NetCracker Technology Corporation, a subsidiary of NEC. NetCracker will be responsible for all business operations of the combined entity. With this acquisition, NetCracker will add key BSS software and services to its market-leading 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 — whether they access BSS/OSS (Operational Support Systems) solutions through the cloud, as a managed service, or as an in-premise system.
“Convergys’ IM business has distinguished itself with a record of successful BSS implementations and exceptional professional services for leading international communications carriers,” said Dr. Nobuhiro Endo, President of NEC. “The acquisition of the IM business will enable NEC to bring even greater value and benefits to the service provider industry.”
“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,” said Andrew Feinberg, President and CEO of NetCracker. “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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