United States: Accel-KKR to acquire assets and liabilities of KANA Software.Byline: deepak03 Accel-KKR LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a US-based private equity firm investing in technology companies, has entered into an agreement with KANA Software Kana Software, Inc., usually rendered KANA (NASDAQ: KANA) is a software company, located in Menlo Park, California. It was founded in 1996 by Mark Gainey as Kana Communications. KANA's current CEO and chairman of the board is Michael Fields. , Inc., a developer of customer communications software (communications, software) communications software - Application programs, operating system components, and probably firmware, forming part of a communication system. These different software components might be classified according to the functions within the Open Systems products, to acquire all of its assets and liabilities for approximately $48.9 million in cash. Pursuant to the transaction, KANA's current operating business, which includes software, services and licensing, will operate as a new company under its current KANA brand. The Board of Directors of KANA has unanimously approved the asset purchase agreement and KANA Directors, officers and major shareholders have signed voting agreements with Accel-KKR to vote approximately 22% of the company's outstanding shares in favor of upon the side of; favorable to; for the advantage of. See also: favor the transaction. Pagemill Partners LLC is acting as financial advisor, while Fenwick & West LLP LLP - Lower Layer Protocol is acting as legal advisor to KANA Software. Kirkland & Ellis LLP is acting as legal advisor to Accel-KKR. The transaction is expected to close by the end of January 2010. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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