NEW YORK (AP) -- Japanese electronics company NEC Corp. is buying Convergys Corp.'s information management business for $449 million, giving it access to some key business support systems software and services.
Convergys said that the deal covers all of its information management business, including its Smart Revenue Solutions for the telecommunications, cable, satellite, broadband, utilities, and logistics markets.
Its stock gained 4 cents to $12.75 in premarket trading on Thursday.
NEC said that the information management business will be folded into its subsidiary, NetCracker Technology Corp.
Convergys, which is based in Cincinnati, is a business services outsourcer. The company said that it still expects full-year earnings to improve and that revenue will continue to grow.
The acquisition is expected to close by late in the second quarter.