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NEC To Acquire NetCracker

Japan's NEC is spending $300 million to acquire NetCracker Technology, a Waltham, Mass.-based provider of network interfaces and communications services.Faced with a slow-growing home market, the purchase will help NEC expand its global footprint in IT systems and network operations. The deal, expected to close in September, should add $500 billion to NEC's bottom line during the next five years, according to the telecom equipment maker.

The companies "share a vision of operations and business support systems being critical to communications service providers," said Andrew Feinberg, CEO of NetCracker, in a statement. "NEC?s scale and solution offering will help us extend our core application and services footprint and continue to broaden the solutions we offer to our global customers."Reuters