Workforce optimization and customer analytics provider Verint Systems has signed a definitive agreement to acquire Kana Software, which provides customer service solutions delivered both on-premises and in the cloud, for approximately $514 million in cash.
The aim of the acquisition is to enable organizations to implement a single-vendor suite to help transform customer engagement. The purchase of Kana, a portfolio company of private equity firm Accel-KKR, should be completed in Verint’s first fiscal quarter ending April 30.
Kana will bring its approximately 900 global customers to the greater Verint organization, which already serves 10,000-plus customers worldwide. The combined customer base, which includes some shared customers, can benefit from a broader, complementary solution set from a single global provider, the companies say.
Verint offers workforce optimization and voice of the customer analytics capabilities, including voice recording, voice biometrics, quality monitoring, speech analytics, text analytics, enterprise feedback management, workforce management, performance management, desktop and process analytics, e-learning and coaching. Kana specializes in customer service solutions, such as agent desktop, case management, knowledge management and email, chat and social media response management.
Together, the combined product suite will offer the ability to capture and manage cross-functional information around customer interactions, business processes and workforce performance to improve operational efficiency, reduce risk and enhance customer loyalty. The combination will help organizations uncover trends and discover why certain employee and customer behavior is occurring, helping ensure seamless interactions across channels, the companies say.
Further, the combined solutions offer guided business processes and recommended dialogues that can help organizations deliver faster, more precise and personalized service.
"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," said Dan Bodner, Verint's CEO, in a ststement. "We also believe there is a strong cultural fit between the two companies and a foundation for a successful future together, for both our current and prospective customers, as well as our employees. We look forward to completing the transaction and welcoming Kana into the Verint family."