Japan’s NEC Corporation is acquiring Convergys Corporation’s Information Management (IM) business for US $449 million (approx. Rs. 2300 crore)..The deal covers all of IM’s business, including Smart Suite Products, across different verticals including communications, utilities and logistics..Amarchand Mangaldas acted as the Indian legal advisor to NEC Corporation. Amarchand team was led by Partner Akila Agrawal along with Senior Associate Ishita Kapur and Associate Parika Ganeriwal..Davis Polk & Wardwell acted as International legal advisor to NEC Corporation. The corporate team included Partners Theodore A. Paradise and Michael Davis along with Associates Mörk Murdock, Miles E. Hawks and Kevin M. Satter..Wachtell, Lipton, Rosen & Katz acted as the legal advisor for Convergys Corporation..According to financeyahoo, 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..The combined resources and assets of NEC, NetCracker, and IM — including software, services, data centers and R&D investment — will create a Telecom software-focused business that is unprecedented in its scale and size, and will give service providers the industry’s most comprehensive set of TOMS solutions and services anywhere in the world.
