The group has operated a dual industry model for many years, producing hotel tech (revenue management and rate shopping tools) and also what it is known as Lease Rent Options platforms for housing suppliers.
The sale of the LRO business to RealPage is expected to close by June of this year.
Rainmaker president nd co-founder, Tammy Farley, says the acquisition will “further strengthen our hospitality business on multiple levels”.
“Our team has literally man-centuries of experience serving hospitality customers and now this expertise and corresponding thought leadership will be 100% focused on continuing the impressive growth of our hospitality and gaming business.”
Rainmaker’s last significant bit of M&A was in March 2015 when it acquired market intelligence and rate analytics service Revcaster for an undisclosed fee.
“The sale of the LRO business also will allow our large and diverse hospitality team to unleash its deep hospitality revenue expertise and set in motion the next stage of our growth and evolution to advance our vision in hospitality – a dynamic, vibrant industry in which we believe the best is yet to come.