Packard Bell and NEC said NEC's worldwide personal computer operations, exclusive of Japan, will merge into Packard Bell in a transaction valued at approximately $300 million. The combined company will be Packard Bell NEC. The transaction is expected to be completed by July 1. Revenues for the first full year of operations for the new company are projected to be $8 billion. Tokyo-based NEC will maintain its PC business in Japan. Packard Bell NEC also will market in Japan.