California-based customer service software player, Kana, has acquired Glasgow-based CRM software firm Ciboodle from its parent company, Luxembourg-registered software and IT services mini-conglomerate Sword Group. London-headquartered corporate finance firm, Arma Partners, acted for Kana.Terms were not disclosed.
Sword acquired Ciboodle, then known as Graham Technology, in April 2008, it is believed for around €47m. Sword Group turned over €156m in 2011 at a 7.2% operating margin. Kana was taken private in a $41m buy-out by Accel-KKR in December 2009. Kana acquired Northern Ireland HQ’d Lagan Technologies from DFJ Esprit in October 2010 (see US Kana creates UK jobs).
So once again the ultimate destination of another ‘Little British Battler’ lies across the pond.
