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Verint to Acquire KANA Software for $514M

Verint Systems has reached an agreement to acquire Silicon Valley-based KANA Software, a provider of customer service solutions delivered both on-premises and in the cloud, for $514 million.




MELVILLE, N.Y. — Verint Systems has reached an agreement to acquire Silicon Valley-based KANA Software, a provider of customer service solutions delivered both on-premises and in the cloud, for $514 million.

Verint is a provider of video surveillance and actionable intelligence solutions. The pending purchase from private equity firm Accel-KKR will add key capabilities to the data-analysis software that Verint sells to corporations, allowing them to mine E-mails and Web-chats to gauge customer relations. The transaction is expected to close by the end of April.

The collective solutions from Verint and KANA would enable organizations worldwide to implement a single-vendor suite to help transform customer engagement, according to Verint CEO Dan Bodner.

“We believe that acquiring KANA would allow Verint to offer a holistic customer engagement strategy powered by [the company’s] Actionable Intelligence, providing significant value for our customers and partners,” he says.

KANA was founded in 1996 and taken private in 2009 for $41 million by Accel-KKR, based in Menlo Park, Calif. The company has about 900 customers, including some it shares with Verint. Verint plans to finance the purchase with about $100 million in cash, $300 million in loans and $114 from a revolving credit line.

Jones Day served as legal advisor to Verint. Goldman, Sachs & Co. served as financial advisor and Kirkland & Ellis LLP served as legal advisor to KANA in connection with the transaction.


Article Topics
Systems Integration · News · Accel-KKR · Acquisitions · Industry News · KANA Software · Verint · All Topics
Accel-KKR, Acquisitions, Industry News, KANA Software, Verint


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