Verint Acquires KANA Software to Redefine Customer Engagement




Verint Systems recently announced the signing of a definitive agreement to acquire KANA Software from Accel-KKR for approximately $514 million (USD) in cash. The acquisition is expected to extend Verint’s Actionable Intelligence strategy, with the potential of the combined solutions from Verint and KANA to enable organizations worldwide to implement a single-vendor suite to help transform customer engagement.
 
Verint is a provider of Actionable Intelligence solutions and serves the enterprise intelligence and security intelligence markets. Its workforce optimization (WFO) and voice of the customer (VoC) analytics solutions help organizations of all sizes capture, analyze, and act on customer, business, and market intelligence to improve customer experiences and heighten loyalty and enhance operational efficiencies. Verint’s WFO and VoC analytics capabilities include voice recording, voice biometrics, quality monitoring, speech analytics, text analytics, enterprise feedback management, workforce management (WFM), performance management, desktop and process analytics, e-learning, and coaching.
 
On the other hand, KANA has lately had a nice run of growth both organically and via acquisitions, and it currently offers compelling customer service solutions in both private and public sectors, such as agent desktop, case management, knowledge management, and e-mail, chat, and social media response management. KANA brings approximately 900 global customers to the greater Verint organization, which already has more than 10,000 customers worldwide. The combined customer base also includes some shared customers, who should benefit from a stronger global company with deep resources to drive innovation and satisfaction.
 
The acquisition could allow the combined Verint/KANA business to deliver a new vision for Customer Engagement Optimization that can help further optimize the workforce, improve processes, and manage and enrich customer and employee interactions and engagement. The combination could enable organizations to use intelligence to uncover trends and discover why certain employee and customer behavior is occurring, helping ensure seamless interactions across channels in order to create valuable, consistent, and contextual experiences when customers engage.
 
Customer Experience Big Data
 
In our discussions with KANA in the past, the vendor had expressed its need for strong analytics capabilities, as organizations today generate massive volumes of Big Data from engagement with customers and employee activities—much more data than they can collect, correlate, and assess. The quantity and speed with which data is generated, as well as the diversity of that data—much of which is unstructured and difficult to analyze—creates a major challenge for organizations to take timely action and increase profitable outcomes. In addition, the rise of mobility and proliferation of communication channels has made it even more difficult for organizations to manage the people and processes required to respond to consumer expectations in a consistent, personalized, and contextual manner.
 
Verint seems quite able to cater to that need for KANA, whereas KANA can in turn offer its customer service solutions to Verint’s customers. The combination is a strategic move that hopes to allow the combined business to fill a void in the market by enabling organizations to extract more value from consistent interactions across channels, with guided business processes and recommended dialogues that deliver fast, precise, personalized service—from next best action to next best offer—transforming the way organizations optimize customer engagements.
 
The cross-selling opportunity is certainly there, but the devil is always in the detail and execution. We look forward to sharing more about the combination once the acquisition is consummated and all of the currently moving parts are put in their place.

 
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