Kana Snags Broadbase
Looking to bolster its enterprise relationship management (eRM) solutions, Kana Communications Inc. Monday inked a deal to acquire Broadbase Software, a provider of customer-focused analytic, marketing automation and e-service software applications.
Kana (NASDAQ:KANA) will exchange 1.05 shares for each share of Broadbase (NASDAQ:BBSW).
“Customers are demanding a relationship management solution that creates extraordinary relationships,” said Jay Wood, chairman and chief executive officer of Kana. “This requires a combination of analytics, knowledge, marketing and service with a scalable e-Business platform. When we look at the combined strengths of Kana and Broadbase product offerings, we have a unique and unbeatable eRM solution.”
The combined company, to be known as Kana Software, will have a base of 1,300 customers, including American Express, Bank of America, Boeing, British Airways, Cisco, Fidelity Investments, Ford, General Motors, Hewlett-Packard, MCI, Microsoft, Nokia, Sprint and United Airlines.
Wood will head up the combined company as chairman while Chuck Bay, chairman and chief executive officer of Broadbase, will fill the president and chief executive officer roles in the company. Shareholders of both companies must still approve the agreement. Kana expects the transaction to close in the third quarter.
