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What: Shares of Convergys Corp.
So what: Japan's NEC Corp. has agreed to acquire Convergys' information management business for $449 million in cash. The division includes solutions like its smart revenue solutions group, customer care, and billing departments.
Now what: Convergys CEO Jeff Fox said that "the proceeds from the transaction further strengthen our balance sheet and allow us the financial flexibility to invest in our business and return capital to shareholders." The deal is expected to close late in the second quarter, subject to customary conditions.
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