Accelâ€KKR said that Verint Systems Inc. (NASDAQ: VRNT) has completed its acquisition of KANA Software, Inc., a portfolio company of Accel-KKR, for USD514.2m in cash.
“The sale of KANA to Verint has capped what has been an extremely active period for Accel-KKR,” said Accel-KKR Managing director Tom Barnds. “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.”
Accel-KKR is a technology-focused private equity firm with over USD2.3bn in capital under management. The firm invests primarily in software and IT-enabled businesses well positioned for top-line and bottom-line growth.