Accel-KKR Closes Acquisition of KANA Assets and Liabilities

MENLO PARK, CA--(Marketwire - December 23, 2009) - KANA Software, Inc. (OTCBB: KANA), a world leader in innovative customer service solutions, today announced the closing of a transaction with an affiliate of Accel-KKR, a technology-focused private equity firm, in which the Accel-KKR affiliate has bought substantially all of KANA's assets and liabilities (other than certain specified assets and liabilities) for a cash purchase price to KANA of approximately $40.82 million following adjustments based on closing net working capital, net indebtedness, transaction expenses and other adjustments described below. Of this amount, $1.96 million will be held back in escrow for up to 14 months pending resolution of certain specified contingencies. KANA obtained stockholder approval of the transaction today at its stockholder meeting.

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