Welcome to our dedicated page for Rimini Street news (Ticker: RMNI), a resource for investors and traders seeking the latest updates and insights on Rimini Street stock.
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, 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.
Rimini Street (Nasdaq: RMNI) announced that BreastScreen Victoria, a principal breast cancer screening organization in Australia, has transitioned to Rimini Street Support for its Oracle Database software. This switch has enabled BreastScreen Victoria to release internal IT resources, alleviating the need for staffing increases due to rising service demands, while significantly reducing annual support costs. With enhanced local support, the organization can now concentrate on strategic projects, such as data center migration.
Rimini Street (NASDAQ: RMNI) has launched its inaugural RMNI LOVE Grant Program, investing $50,000 to support local nonprofit organizations in Las Vegas. The initiative will award five grants of $10,000 each to certified 501(c)3 organizations in the area, aiming to recognize and uplift community efforts. This program, part of RMNI LOVE month, reflects the company’s commitment to its communities. The application process runs from February 1-28, with winners to be announced in March.
Rimini Street (NASDAQ: RMNI) announces its continued support for Staffmark Group, enhancing their PeopleSoft system to boost operational efficiency. Staffmark benefits from Rimini Street's quick tax, legal, and regulatory updates, improving payroll processes for 35,000 employees weekly. The collaboration aims to reinvest savings into innovative service offerings, including AI analysis and automated job posting capabilities, essential for maintaining a competitive edge.
Rimini Street (NASDAQ: RMNI) announced a recent U.S. Federal Court ruling regarding its ongoing litigation with Oracle. The court found in favor of Rimini on five items but also determined the company violated a permanent injunction, resulting in sanctions of $630,000 and restrictions on certain computer files. Rimini Street disagrees with the ruling and is considering an appeal to the U.S. Ninth Circuit Court. The company aims to litigate its claims against Oracle for alleged anticompetitive conduct.
Rimini Street (NASDAQ: RMNI) announces a partnership with Yarra Valley Water, the largest water utility in Melbourne, Australia. The utility has switched to Rimini Street support for its Oracle software portfolio, aiming to enhance service quality while minimizing costs. This strategic move aligns with Yarra Valley Water's goal of executing a digital transformation without increasing customer bills, despite managing over AUD$5 billion in infrastructure. The collaboration promises enhanced support and significant savings to fuel Yarra Valley Water's digital initiatives.
Rimini Street, Inc. (Nasdaq: RMNI), a leading global provider of enterprise software support, announced its participation in the 24th Annual Needham Growth Conference on January 14, 2022, at 2 p.m. ET. CFO Michael L. Perica and VP of Investor Relations Dean Pohl will represent the company. The event can be viewed live at this link and will be archived for 90 days. Rimini Street will also schedule one-on-one meetings with attendees through their investor relations team.
FAQ
What is the current stock price of Rimini Street (RMNI)?
What is the market cap of Rimini Street (RMNI)?
What does Rimini Street, Inc. do?
When was Rimini Street, Inc. established?
What are some products offered by Rimini Street, Inc.?
How much can clients save with Rimini Street's support services?
How many clients does Rimini Street, Inc. have?
What makes Rimini Street's support services unique?
Where does Rimini Street, Inc. derive most of its revenue?
Has Rimini Street, Inc. received any industry recognition?
What is the growth potential for Rimini Street, Inc.?
What is the financial condition of Rimini Street, Inc.?
