Rainmaker Acquires Call Center in Philippines

Rainmaker Systems Inc., a Campbell, CA-based lead generation and teleservices firm, has acquired Qinteraction, a call center located in Manila, Philippines.

Rainmaker paid $11.5 million, including $7 million in cash and $4.5 million worth of Rainmaker's common stock. The purchase agreement provides for additional payment of up to $4.5 million in cash and $3.5 million worth of stock, if certain financial goals are achieved before June 2008.

Qinteraction reported roughly $6.8 million in revenues in 2006, with 75% derived from teleservices clients based in the U.S. Like Rainmaker it also offers lead generation and teleservices.