Verint Systems Acquires KANA Software for $514.2 million in Cash

The United States based company Verint Systems Inc. (NASDAQ: VRNT) has completed the acquisition of KANA Software for $514.2 million in Cash on 3^rd February 2014. KANA Software is a portfolio company of a technology focused investment firm named Accel‐KKR. 

 

Verint System is one of the leading providers of analytics software. The company is headquartered in Melville, New York, with offices across the globe. The company has gone through series of acquisition following a strategy of organic growth in the few years.  

Accel-KKR portfolio company, KANA Software is a California based company provides software solutions for service experience management (SEM) to large and mid-size organizations.

The private equity firm Accel-KKR has brought the KANA Software in December 2009. The company has supported KANA Software through investments in order to achieve organic growth.  

Quippi Raises $2 Million for International Money Transfers

Another United States based international shopping card company named Quippi, has secured a financing of $2 million for International Money Transfers socalTech.com. The financing came from an early stage venture capital fund named Avalon Ventures.

Quippi is a shopping card company which sells gift cards throughout the United States. The gift cards help the people to support their relatives or friends who are living abroad. The company trade through its retail store, company website and a group of sales representative.   

The venture capital firm, Avalon Ventures is a California based company which offers investment in growth, seed, venture and early stage companies. The company seeks to invest in various sectors which include pharmaceuticals, media, technology, life science, software and others.

Paylocity Files for $115 Million in its Initial Public Offering

Paylocity, the United States based company which provides payroll services and human resource software solutions to small and mid-market clients and employees has filed for an initial public offering to raise up to $115 million.

The company is in filing with Securities and Exchange Commission and is planning to be listed on the NASDAQ exchange under the symbol PCTV. William Blair, Deutsche Bank and BofA Merrill Lynch are listed as joint bookrunners on the deal, according to NASDAQ and no pricing information were disclosed.

Paylocity has experienced growth in the last few years which has led the company to made in Deloitte's Technology Fast 500 list in 2013. The company has registered a sales of $91 million in 2013. Paylocity is one of the fastest growing telecommunication, technology, media, life sciences and clean technology companies in North America. Paylocity CEO Steve Beauchamp has utilized the company's technology and exceptional combination of services for the company's growth.