Telecom equipment and solutions provider NEC Corp. announced a definitive agreement to acquire US-based operations support systems provider NetCracker Technology Corp. for about $300 million.
Announced Friday, this strategic acquisition adds a key element of software and services to NEC's portfolio of mobile and fixed infrastructure products according to a NEC press release.
Recording sales of about 10 billion yen in 2007 with expectations of 10 percent growth in 2008, Japan-based NEC expects NetCracker products, services and domain expertise to be important in helping leverage both company's complementary assets.
NEC said that OSS expertise "represent(s) a key element to new international growth that is expected to generate approximately 200 billion yen over the next 5 years." NEC hopes that their OSS acquisition will enable communications service provider clients to build closer customer relationships.
In the press release, NEC president Kaoru Yano said "NetCracker has distinguished itself with a record of successful OSS transformations and exceptional software solutions and professional services. "
NetCracker CEO Andrew Feinberg expects the acquisition to extend the range of applications and services available to current customers including France Telecom, MTS, Sprint and TELUS.
NEC also announced three new executive personnel changes on Friday. Kuniaki Okada and Masaki Fukui were made senior vice presidents from positions as NEC advisor and National Life Finance Corporation senior executive director respectively.
Yasujiro Ryuno was appointed Associate Senior Vice President from his position as enterprise solutions business unit vice president.
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