Verint Systems is a data analysis and security company that is acquiring KANA Software for $514 million in cash. Kana is a cloud-based customer service solutions company. This acquisition is intended to expand upon Verint’s Actionable Intelligence strategy. The acquisition is expected to be completed in Verint’s first fiscal quarter ending April 30, 2014.
“We believe that acquiring Kana would allow Verint to offer a holistic customer engagement strategy powered by Actionable Intelligence, providing significant value for our customers and partners. Our complementary solutions represent a comprehensive offering to help optimize customer engagement. We have been impressed with Kana and share a common vision for our respective markets, including a firm commitment to our customers,” stated Dan Bodner, CEO of Verint.
Kana will be adding around 900 customers to the Verint organization. Verint has over 10,000 customers across the globe. The acquisition will be financed through cash on hand and debt using around $100 million of Verint’s cash.