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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, Inc. (Nasdaq: RMNI) announced a seven-year agreement with DPaschoal Group, Brazil's leading automotive service retail network, to support its SAP ECC 6.0 applications. This transition is part of DPaschoal's digital transformation strategy, allowing them to reallocate resources towards enhancing their digital portal for improved customer experience. DPaschoal aims to maximize its existing SAP investments without upgrading or replacing its ERP system. The partnership will provide dedicated engineering support and aligns with DPaschoal’s goals for business growth and innovation.
Rimini Street reported a record revenue of $95.6 million for Q3 2021, marking a 15.9% year-over-year growth. The gross margin increased to 65.1% compared to 61.2% last year. Active clients rose to 2,793, reflecting an 18.1% growth. Notably, international revenue surged by 31.4%. The company aims for billion-dollar revenue operations by 2026 and has a revenue guidance of $95.8 million to $96.8 million for Q4 2021. Despite these achievements, the net income decreased to $1.9 million from $3.6 million last year.
Rimini Street, Inc. has appointed Kevin Mease as its first Chief Product Officer, alongside Bill Carslay as Group Vice President and General Manager of Global Professional Services. These leadership changes aim to enhance the company's multi-product strategy and support its goal of achieving
Rimini Street, Inc. (NASDAQ: RMNI) has promoted Emmanuel Richard to Senior Vice President and General Manager of North America Theatre, while Gala Lyne steps up to manage the North America - East region. This restructuring aims to enhance North American revenue growth and reach a target of $1 billion in annual global revenue by 2026. Richard will oversee marketing, sales, and client engagement, capitalizing on existing relationships and expanding the company’s market footprint.
Rimini Street, Inc. (Nasdaq: RMNI) has appointed Eric Helmer as its new Chief Technology Officer (CTO) and launched the Office of the Chief Technology Officer (OCTO). This initiative aims to enhance strategic IT, operational, and financial goals for clients through innovative software solutions. Helmer brings 25 years of experience in IT and has previously led Rimini Street’s Strategic Services Group. The OCTO will focus on maximizing clients' enterprise software investments and providing advisory services tailored to optimize business operations and drive growth.
Rimini Street, Inc. (NASDAQ: RMNI) announces that Philippine Airlines has opted for Rimini Street Support for its Oracle software, aiming to enhance operational capacity and accelerate recovery post-pandemic. The strategic shift is designed to tackle challenges in the aviation sector, enabling key digital projects like cargo system modernization and passenger analytics improvement. The airline aims to reallocate resources towards innovative transformations, ensuring resilience and a customer-centric approach amidst reduced air travel demand.
Rimini Street (Nasdaq: RMNI) announced that Mitsubishi Corporation Life Sciences has switched to its support for JD Edwards applications. This transition has significantly lowered maintenance costs, allowing Mitsubishi to allocate resources towards digital transformation over the next five to ten years. The company aims to enhance operational agility and support overseas expansion. Rimini Street provides premium software support, ensuring faster response times and better service quality than previous vendor support.
Rimini Street, Inc. (Nasdaq: RMNI), a leader in enterprise software support, announced investor meetings at upcoming technology conferences in November 2021. Executives Michael L. Perica and Dean Pohl will meet with stakeholders at the Craig-Hallum 12th Annual Alpha Select Conference, Benchmark Company Virtual Technology Conference, and Ladenburg Thalmann Virtual Technology Expo. Rimini Street provides third-party support for Oracle and SAP products, helping over 4,200 organizations reduce costs and improve business outcomes.
Rimini Street, Inc. (Nasdaq: RMNI), a leading provider of enterprise software support, will report its third quarter 2021 earnings on November 3, 2021, after market close. The company will hold a conference call and webcast at 5:00 p.m. Eastern to discuss the results and outlook. Rimini Street has supported over 4,200 organizations worldwide, offering responsive application management and support services aimed at helping clients reduce costs and achieve better outcomes.
Rimini Street (NASDAQ: RMNI) announced that ENEX, a premier furniture manufacturer in South Korea, has transitioned its support services for SAP systems to Rimini Street. This change has allowed ENEX to cut annual support costs significantly and focus its IT workforce on essential modernization initiatives. With Rimini Street's high customer satisfaction rating of 4.9 out of 5.0 and a commitment to maintaining core SAP applications for 15 years, ENEX aims to leverage this partnership for future IT enhancements.
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