this is free money to the aquiring private equity company.

they get the company for free and pocket $60 million????? sounds to me that this is worth a bit more than the offering price.

"The deal includes “substantially all” of Kana’s assets and liabilities. Menlo Park-based Kana has “more than $400 million” of net operating loss carry-forwards.

Kana’s board of directors has approved the agreement, which has other closing conditions.

As of June 30, Kana had an accumulated deficit — how much money it has lost or written off since it started — of $4.3 billion."