Shore Solutions Inc. acquired Rainmaker Asia, Inc. from Rainmaker Systems Inc. (NasdaqCM:RMKR) for $1.1 million in cash on December 17, 2012. As per the stock purchase agreement, Rainmaker Systems received an initial cash payment upon execution of the agreement of $0.85 million. In addition to the closing payment, Rainmaker Systems may receive additional contingent consideration based on multiple earn-out provisions included within the agreement. The earn-out calculations provide Rainmaker Systems the ability to receive additional consideration of $0.3 million at target plus a nominal percentage of certain revenues of Rainmaker Asia during the period from January 1, 2013 through December 31, 2015. Pagemill Partners, LLC acted as financial advisor for Rainmaker Systems Inc.

Shore Solutions Inc. completed the acquisition of Rainmaker Asia, Inc. from Rainmaker Systems Inc. (NasdaqCM:RMKR) on December 17, 2012.