Verint Systems Inc. (Nasdaq: VRNT) is buying Kana Software Inc. for $514 million in cash.

Kana, headquartered in Sunnyvale, Calif., provides customer service both in person and through cloud services to companies. Customers include Priceline.com Inc. (Nasdaq: PCLN), Sprint Corp. (NYSE: S) and Xerox Corp. (NYSE: XRX). 

Kana has been backed by private equity firm Accel-KKR since December 2009, when the private equity firm took the company private for about $41 million. During the PE firm’s ownership, Kana completed two add-on deals. In 2010, Kana bought Belfast, Ireland-based Lagan Technologies, which provides computer services to governments. In 2012, Kana picked up Ciboodle, a contact center provider headquartered in Glasgow, Scotland.

Verint is a security software developer headquartered in Melville, N.Y. Verint expects the acquisition to help it improve customer engagement. In February, the company closed a deal for Comverse Technology Inc., a billing-software group.

The Kana acquisition will be financed through about $10 million in cash, about $300 million from term loans and the balance from Verint’s un-drawn revolving credit facility.

Accel-KKR is currently investing out of a fourth buyout fund that was raised in 2012, and a structured capital fund that was raised in 2011.  The Menlo Park, Calif. firm was started in 2000 by private equity firms Accel Partners and Kohlberg Kravis Roberts & Co. LP (NYSE: KKR). In October, Accel-KKR invested in On Center Software, a construction automation software company. In August, Accel-KKR portfolio company Abila bought Avectra, a customer-relationship management services provider. 

Jones Day served as legal counsel to Verint. Goldman Sachs & Co. (NYSE: GS) acted as Kana’s financial adviser, and Kirkland & Ellis LLP provided legal advice.