Rimini Street Q3 Results Have Already Exceeded Plan; Nearly Doubled Client Numbers and Global Contracts Demonstrate Strong Momentum
SAN FRANCISCO - Tuesday, September 30th 2014 [ME NewsWire]
Oracle OpenWorld 2014
(BUSINESS WIRE) -- Rimini Street, Inc., the leading independent provider of enterprise software support for SAP AG’s (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation’s (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion and Oracle Retail software, today announced that combined revenue for its Oracle E-Business Suite (EBS) and Oracle Database and Middleware (Oracle Technology) product lines surged more than three-fold in the trailing 12 months, growing by 248 percent, and the number of signed clients for these services nearly doubled during the same period, to over 180, indicating increased adoption of Rimini Street independent support among global entities and helping to fuel the Company’s substantial growth since Oracle OpenWorld 2013.
Global Investment in Oracle EBS and Oracle Technology Support Capabilities
Rimini Street has continued to invest in the development of resources, processes and technical capabilities to successfully deliver support globally for its most complex Oracle clients. Recently, Rimini Street announced the formal expansion of its Oracle Technology support offering to include Oracle Middleware products. Today, the Company supports Oracle Database and Middleware products stand-alone, without any required application support pairing.
As a result, the Company has experienced rapid growth and adoption worldwide for Oracle EBS and Oracle Technology. In the past 12 months, Rimini Street has nearly doubled its number of Oracle EBS and Oracle Technology clients, including a wide array of organizations from midmarket to very large, complex Fortune 500 multinationals, including, for example, one client who is operating more than 600 mission-critical Oracle database servers around the world.
“Choosing Rimini Street over Oracle to support our mission-critical EBS platform has enabled us to regain control over our upgrade timetable, provided superior support and liberated significant budget which we’ve reinvested into growth for the business,” said Tom Grooms, CIO, The Valspar Corporation. “My only regret is that I didn’t move to Rimini Street years earlier.”
Strong Growth “Business as Usual” for Rimini Street
Since Rimini Street launched support nearly 10 years ago, the Company has experienced strong and steady demand for its independent support services among Oracle licensees worldwide, across every product line it supports. In the past 12 months, an increase in demand across Oracle product lines, indicate licensees are seeking and choosing to drive greater value from their annual software support dollars while foregoing ERP upgrades and costly migrations to new platforms, such as Oracle’s Fusion Applications.
With new software platforms uncertain, and costly incremental upgrades of little value to many licensees, many Oracle licensees are instead electing to deploy innovative applications “around the edges of their current core Oracle ERP systems” in a hybrid deployment model. Such a model moves from the traditional large, integrated single-vendor product suite to a hybrid IT landscape of core transaction “systems of record” integrated with best-of-breed software applications, and will include a combination of on-premise and Cloud application delivery models.
“The market has spoken and it clearly wants a choice of support providers and program options. Oracle and SAP licensees are increasingly seeking out more value-driven and responsive support that will successfully cover today’s multi-vendor, hybrid deployment model,” said Seth Ravin, Rimini Street CEO. “As the software industry continues to seek new ways to extract additional fees out of existing licensees, Rimini Street remains focused on helping its clients achieve their IT and business objectives by maximizing the return on their existing software investments and leveraging Rimini Street’s award-winning support offerings.”
About Rimini Street, Inc.
Rimini Street is the leading independent provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs over a decade, including saving 50 percent on their annual support fees. Clients can remain on their current software release without any required upgrades or migrations for at least 15 years after switching to Rimini Street. Hundreds of clients, including global, Fortune 500, midmarket, and public sector organizations from across a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com or call within the USA 888-870-9692 or internationally +1 702-839-9671.
Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2014. All rights reserved.
Contacts
Rimini Street, Inc.
Alma Park, 323-229-7282
apark@riministreet.com
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