Accel-KKR exits KANA Software to Verint for $514m

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software binary code computerTechnology-focused private equity firm Accel-KKR has exited its investment in cloud-based customer experience software maker KANA Software to Verint Systems for $514m.

Accel-KKR agreed to buy KANA’s assets and liabilities in a $40.8m deal in December 2009.

KANA CEO Mark Duffell said, “Accel-KKR was an extraordinary partner to the KANA management team following the acquisition that brought the company private in December 2009.

“Accel-KKR did what they said they were going to do including supporting our efforts through investments to grow the company both organically and through targeted strategic acquisitions.

“Through our partnership, we were able to create a market leader in the growing customer service software market.”

Accel-KKR managing director Tom Barnds said, “The sale of KANA to Verint has capped what has been an extremely active period for Accel-KKR.

“Since the start of 2013, Accel-KKR completed four new platform investments, supported three significant follow-on acquisitions by our portfolio companies and generated significant liquidity for our investors through five separate realizations.

“We look forward to an active 2014 as well.”

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