Accel-KKR to acquire assets and liabilities of KANA Software

Accel-KKR LLC, a US-based private equity firm investing in technology companies, has entered into an agreement with KANA Software, Inc., a developer of customer communications software products, to acquire all of its assets and liabilities for approximately $48.9 million in cash.

Pursuant to the transaction, KANA's current operating business, which includes software, services and licensing, will operate as a new company under its current KANA brand.

The Board of Directors of KANA has unanimously approved the asset purchase agreement and KANA Directors, officers and major shareholders have signed voting agreements with Accel-KKR to vote approximately 22% of the company's outstanding shares in favor of the transaction.

Pagemill Partners LLC is acting as financial advisor, while Fenwick & West LLP is acting as legal advisor to KANA Software. Kirkland & Ellis LLP is acting as legal advisor to Accel-KKR.

The transaction is expected to close by the end of January 2010..

Deal Value (US$ Million) 48.9
Deal Type                Private Equity
Sub-Category             None
Deal Status              Announced: 2009-10-27

Deal Participants

Target (Company) KANA Software, Inc. - Assets and Liabilities
Vendor (Company) KANA Software, Inc.

Related terms: acquisition, advisor, legal, Private Equity, products, software, technology