Verint to acquire KANA Software for $514M in cash

|About: Verint Systems Inc. (VRNT)|By:, SA News Editor

The acquisition is expected to be financed through $100M in cash, $300M in incremental term loans, and the balance from Verint's (VRNT) un-drawn revolving credit facility.

Verint expects KANA to generate non-GAAP revenue of $140-150M and non-GAAP EBITDA of $40-45M in calendar year 2014. The acquisition is expected to be accretive to Verint's FY 2015 non-GAAP diluted earnings

The acquisition is expected to close in Verint's FQ1.