NEC announced their intention to acquire Convergys' BSS assets for $449million (USD).
The acquisition is intended to compliment NEC's OSS products (from the Netcracker and Subex purchases) and their bag of BSS bits they have been using to promote the Netcracker brand as a complete OSS/BSS solution. Neither NEC nor Netcracker had a great deal of brand-recognition in the BSS space, but Convergys will bring this in spades. NEC/Netcracker will be in a far better position to compete directly with Oracle and Amdocs, both of which have a complete OSS/BSS suite.
The deal will include Convergys' Information Management business, home of their BSS products. This leaves Convergys to focus on their less telco-specific relationship management and call centre software.
By the way, that's $449m from 2011 revenues of $329m by the IM business, an unexciting 1.36 multiplier.
A bit more about this story in NEC's own press release and some more business figures in the Light Reading story (where they amusingly persist in trying to get us all to call OSS/BSS software 'SPIT').