Strategic Merger Creates the First Contact Center Solution Based on J2EE and COM for Superior Customer Service
MENLO PARK, Calif.--June 29, 2001--Kana Communications, Inc. (NASDAQ: KANA), a leading provider of enterprise customer relationship management (eCRM) solutions and Broadbase Software, Inc., (NASDAQ: BBSW), a leading provider of Intelligent Customer Interaction(TM) solutions, today announced that they have completed the merger of the two companies. The new company (now named KANA), will provide the next generation of eCRM solutions to Global 2000 organizations, and will be traded under the symbol KANA beginning the morning of June 29, 2001.
"With the only suite of J2EE and COM contact center applications on the market today, KANA enables Global 2000 organizations to build scalable contact centers that provide an extremely high level of customer service consistently across all touch points," said Chuck Bay, President and CEO of KANA. "KANA`s complete suite of enterprise applications and best-in-class eCRM Architecture uniquely enables customers to conduct business with a company when, where and how they want, whether that means web contact, web collaboration, e-mail, live chat or telephone. KANA makes it possible to provide extraordinary interactions and improve customer experiences while decreasing costs in the contact center and in marketing departments."
KANA`s highly scalable J2EE and COM contact center applications enable companies to bring intelligence and automation to an organization`s service and marketing organizations, enabling them to better manage customer and partner relationships that result in rapid return on investment. The combined company will make its eCRM solution available immediately to the marketplace and its 1,200 existing customers.
About KANA
KANA (NASDAQ: KANA) provides the industry`s leading eCRM solutions to the largest businesses in the world, helping them to better service, market to, and understand their customer and partners, while improving results and decreasing costs in contact centers and marketing departments. Through comprehensive multi-channel customer relationship management that combines the best-in-class KANA eCRM Architecture with enterprise applications, KANA has become the fastest-growing provider of next generation eCRM technology. The company`s customer-focused service, marketing and commerce software applications enable organizations to improve customer and partner relationships by enabling them to productively interact when, where and how they want - across all touch points, including web contact, web collaboration, e-mail, and telephone. KANA`s global customer base includes Global 2000 organizations in the financial services, manufacturing, high technology, communications, retail and services markets. ADP, Chase, E*Trade, GAP, GM, Hewlett-Packard, Kodak, Sony, United Airlines, Verizon, and Williams Sonoma are among the Industry leaders that have implemented KANA`s eCRM solutions. KANA has locations in 22 countries worldwide, in addition to an extensive global network of channel partners. For more information, please visit www.kana.com.
NOTE: KANA Software, Broadbase, KANA and the KANA logo are trademarks of KANA Software, Inc. All other company and product names may be trademarks of their respective owners.
Cautionary Note Regarding Forward-looking Statements Under the Private Securities Litigation Reform Act of 1995:
Information in this release that involves KANA`s financial forecasts, projections, expectations, beliefs, hopes, plans, intentions or strategies regarding the future are forward-looking statements that involve risks and uncertainties. These statements may include statements about KANA`s strategies in the marketplace, its market position and its relationship with customers. All forward-looking statements included in this release are based upon information available to KANA as of the date of the release, which may likely change, and we assume no obligation to update any such forward-looking statement. These statements are not guarantees of future performance and actual results could differ materially from our current expectations. Factors that could cause or contribute to such differences include, but are not limited to, risks associated with the merger with Broadbase and integration of the companies; slowing economic conditions; competition in each of our marketplace; risks associated with the evolving and varying demand for eCRM customer communication and similar software; lack of market acceptance of KANA`s products or services; inability to integrate and enhance existing products and services within budget and on schedule, and develop new products and services on a timely basis; introduction of new products or services by competitors; inability to attract and retain qualified employees; the ability to manage cash and expenditures; KANA`s history of losses; the ability to expand sales; inability to manage business in light of recent management changes and personnel reductions; litigation over property rights; and general economic factors, particularly as it affects spending by our prospective customers on software products such as ours. These and other factors are risks associated with our business that may affect our operating results are discussed in KANA`s filings with the Securities and Exchange Commission ("SEC"), including our most recent annual report on Form 10-K and quarterly report on Form 10-Q, and registration statement on Form S-4.
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CONTACT:
KANA
Lorraine Daignault
508/653-4000
ldaignault@kana.com
PAN Communications
Dan Sher/Ken Peters
978/474-1900
kana@pancomm.com
Market Street Partners
Chris Finley
415/321-2454
chris@marketstreetpartners.com
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