Comverse Inc., which develops platforms to enable value-added services in telecom networks, is buying the GSS Division of back-office company CSG Systems International Inc. for $251 million in cash.

Comverse says the combination of GSS, which makes software-based billing solutions, with Comverses Real-Time Billing group, means it can target the emerging converged billing market, serving wireless, wireline, cable, satellite and ISPs.

The companies expect the acquisition to close by Jan. 31, 2006.

We believe the emerging converged billing market is approaching an inflection point, and that a significant growth opportunity is at hand, says Kobi Alexander, chairman and CEO of Comverse Technolgy Inc., which owns Comverse Inc. Converged billing is expected to be a fast-growing, and ultimately one of the largest, segments of the overall billing market.