Yesterday, KANA Software, Inc. received a letter of interest from Chordiant Software, expressing interest in a transaction in which it would acquire all of the outstanding common shares of KANA for $1.20 per share consisting of cash and Chordiant common stock, such stock equaling 19.9% of the current outstanding shares of Chordiant common stock (valued at the average price of Chordiant stock for the 10-day trading period ending five trading days prior to the closing of the proposed transaction). Chordiant is a competitor of KANA with an enterprise value of approximately $35 million.
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About KANA Software, Inc.
KANA is a world leader in multi-channel customer service. KANA's integrated solutions allow companies to deliver consistent, managed service across all channels, including email, chat, call centers and Web self-service, so customers have the freedom to choose the service they want, how and when they want it. KANA's clients report double-digit increases in customer satisfaction, while reducing call volumes by an average of 20 percent. KANA's award-winning solutions have been proven in more than 600 companies worldwide, including approximately half of the world's largest 100 companies.
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