Convergys (CVG) to Sell IM Business in $449M Deal with NEC Corp.

Convergys Corporation (NYSE: CVG), a global leader in relationship management, announced today it has signed a definitive agreement to sell its Information Management (IM) business for $449 million in cash to NEC Corporation.

The transaction covers all of the IM business, including its Smart Revenue Solutions for the telecommunications, cable, satellite, broadband, utilities, and logistics markets.

Convergys expects the transaction to be completed by late Q212, subject to the expiration of regulatory waiting periods and other customary closing conditions. Centerview Partners LLC was the financial advisor and Wachtell, Lipton, Rosen & Katz was the legal advisor for Convergys Corporation.

Convergys is confirming its expectations for continuing revenue growth and earnings improvement for the full year 2012 in its customer management business.

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