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Article: Accel-KKR Buys KANA Assets.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- November 2, 2009
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Byline: Jonathan Marino
Accel-KKR has bought KANA Software, taking private a customer service solutions firm for about $50 million.
The deal brings to the Silicon Valley PE shop a software firm that somewhat mirrors its' last buyout play in the space, in which it was spurned.
This time around, Accel-KKR did not have to endure a bidding war and allowed KANA Software's former owner to be publicly traded under a new trading symbol with the net cash proceeds from the transaction and more than $400 million in carry-forward net operating losses (NOLs).
The shell will then use capital to buy one or more profitable business, KANA's executives ...