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Rimini Street, Inc., established in 2005, is a pioneering independent provider of enterprise software support services. The company specializes in offering third-party support for Oracle and SAP enterprise software, significantly reducing annual support fees by 50% compared to traditional support programs. Rimini Street’s support services are not only cost-effective but also award-winning, making them a preferred choice for organizations looking to optimize their IT budgets without compromising service quality.
Rimini Street’s comprehensive support solutions enable clients to efficiently run, manage, support, customize, configure, connect, protect, monitor, and optimize their enterprise applications, databases, and technology software platforms. The company’s product portfolio includes support for Oracle E-Business Suite, Oracle Database, PeopleSoft, and SAP Business Suite, among others.
The company is widely recognized by clients and industry analysts such as Gartner, Forrester, and Nucleus for its leadership in a rapidly growing market. Rimini Street has an impressive client base nearing 1,000 clients, showcasing its accelerating growth and strong market presence. The company has also been acknowledged in various industry recognitions, including being named to CIO UK’s “20 Companies to Watch in 2012” hotlist.
With a solid value proposition that resonates with CIOs and CFOs, particularly in an environment of tight IT budgets and flat global economic growth, Rimini Street provides proven methods to cut costs while enhancing service levels. This unique positioning creates a significant market opportunity with tens of thousands of qualified target prospects.
Rimini Street’s financial health is bolstered by its growing client base and revenue streams, predominantly derived from the United States. The company continues to expand its market reach and enhance its service offerings, making it a formidable player in the enterprise software support industry.
Rimini Street (NASDAQ: RMNI) has partnered with Sajo Systems, a division of the Korean Sajo Group, to enhance support and maintenance for its SAP S/4HANA system. This collaboration aims to optimize IT operations, enabling Sajo Systems to focus on digital transformation and innovation amidst challenges posed by the COVID-19 crisis. Rimini Street's customized support services promise improved service quality and cost efficiencies for Sajo Systems, which anticipates faster resolution of support cases. The partnership aligns with Rimini Street's goal of achieving $1 billion in annual revenue by 2026.
Rimini Street, Inc. (NASDAQ: RMNI) has partnered with France-based Labeyrie Fine Foods to enhance its Oracle JD Edwards and Database support. This collaboration aims to improve cost efficiencies, allowing Labeyrie to accelerate cloud migration. Labeyrie reported significant operational value and savings, as Rimini's services are offered at half the previous cost. The partnership aligns with Rimini's goal to reach $1B in annual revenue by 2026, demonstrating its commitment to helping clients effectively navigate digital transformation and competitive challenges.
International Container Terminal Services, Inc. (ICTSI) has chosen Rimini Street (NASDAQ: RMNI) for SAP software support, aiming to optimize its ERP investments. This partnership is set to save ICTSI 50% in annual support fees, allowing them to redirect resources towards innovation and growth. Rimini Street's support will enhance critical functions like financials and asset tracking. ICTSI, a major player in global port operations, will leverage Rimini Street's advanced services to prepare for future ERP needs, ensuring alignment with emerging market requirements.
Rimini Street, Inc. (Nasdaq: RMNI) has appointed Kevin N. Hooper as group vice president and regional general manager for the Americas Central Region. Hooper, a veteran with over 20 years of leadership experience from companies like Lenovo and Oracle, will oversee marketing, sales, and service delivery in the region. The appointment aligns with Rimini Street's goal to achieve $1 Billion in annual revenue by 2026, focusing on leveraging Hooper's expertise to accelerate sales growth and improve client services.
Rimini Street, Inc. (Nasdaq: RMNI) reported a strong fourth quarter and full-year 2021, achieving record revenues of $99.3 million, up 13.0% year-over-year, and $374.4 million for the fiscal year, an increase of 14.6%. The gross margin improved to 63.6%, while net income soared to $70.1 million for Q4, compared to $2.5 million in the prior year. The company ended the year with record cash of $119.6 million and a new stock repurchase plan of up to $15 million. Guidance for Q1 2022 revenue is set between $95.0 million and $96.0 million, with annual guidance of $400 million to $410 million.
Rimini Street, Inc. (Nasdaq: RMNI) announced a stock repurchase plan of up to
Rimini Street (NASDAQ: RMNI) has reorganized its operations by combining North America and Latin America into a unified Americas Theatre, aimed at enhancing client experience and operational efficiency. The company appointed Emmanuel Richard as the senior vice president and general manager of the new theatre. This restructuring is expected to eliminate redundancies, improve service delivery, and capitalize on growth opportunities, given that these regions contribute significantly to Rimini Street’s revenue. The company maintains a client satisfaction rate of 4.9 out of 5.0.
Rimini Street has appointed Jeff Spicer as executive vice president and chief marketing officer. Spicer, a marketing veteran with over 20 years of experience, will oversee the company's global marketing strategy, aiming to bolster its client-centric services as it targets
Rimini Street, Inc. (Nasdaq: RMNI) will announce its earnings for the fourth quarter and fiscal year 2021 on March 2, 2022, after market close. The company will host a conference call at 5:00 p.m. Eastern / 2:00 p.m. Pacific to discuss the results and provide an outlook for 2022. The event will be accessible via a live webcast on their Investor Relations website. Rimini Street is recognized as a leading third-party support provider for Oracle and SAP software, serving over 4,400 organizations, including Fortune 500 companies.
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