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.
Corporate Overview
Rimini Street (RMNI) is an independent provider specializing in end-to-end enterprise software support. Established in 2005, the company offers an extensive range of services that enable clients to run, manage, support, customize, configure, connect, protect, monitor, and optimize their enterprise applications encompassing both Oracle and SAP systems. Leveraging a subscription-based model, Rimini Street delivers cost-effective support programs that challenge traditional vendor-based support fees, which has resonated strongly with IT executives, including CIOs and CFOs, particularly in a landscape characterized by tight IT budgets and increasing cost pressures.
Service Offerings and Business Model
At its core, Rimini Street's business model is built on delivering comprehensive support solutions designed to replace the more expensive annual support contracts offered by the original software vendors. The company provides a unified family of support services for enterprise resource planning (ERP), customer relationship management (CRM), product lifecycle management, and various technology software systems. This approach enables client companies to access award-winning support services without the burden of escalating traditional fees. By offering a subscription model, Rimini Street ensures predictable and scalable cost structures while maintaining a focus on quality and continuity in service delivery.
Operational Excellence and Market Position
Rimini Street is recognized for its rigorous operational standards and a well-honed support methodology that distinguishes it within the competitive landscape. The company’s service model is driven by in-depth technical expertise, comprehensive maintenance protocols, and proactive risk management practices aimed at maximizing the performance of enterprise software environments. Its offerings are underpinned by extensive industry knowledge and a commitment to addressing the ever-evolving challenges faced by modern businesses. Widely acknowledged by prominent industry analysts and independent research organizations, the company has consistently been identified as a credible and robust alternative in the enterprise software support market.
Industry Recognition and Client Base
Over the years, Rimini Street has built a reputation for its innovative approach to software support and has attracted a diverse clientele that spans across both domestic and international markets. Its business model, recognized by industry analysts at firms such as Gartner, Forrester, and Nucleus, emphasizes a value proposition centered on cost-efficiency, enhanced service quality, and strategic IT flexibility. This recognition is a testament to the company’s ability to adapt to evolving market demands while maintaining a focus on core operational strengths and customer satisfaction.
Comprehensive Support Solutions
The portfolio of services offered by Rimini Street extends far beyond simple maintenance. The company integrates customization, configuration, and optimization services into a unified support framework that helps clients sustain and improve the performance of their enterprise applications. This holistic view of support not only ensures immediate operational continuity but also contributes to long-term IT resilience for its clients. By focusing on a collaborative, client-centered approach, Rimini Street addresses both current challenges and complex IT landscape requirements with precision and reliability.
Global Reach and Client-Centric Approach
While a significant portion of Rimini Street’s revenue is generated within the United States, the company has also established a credible presence in various international markets. Its ability to tailor support services to meet the diverse needs of clients across different regions speaks to the versatility and adaptability of its business model. The company’s focus on creating deep, long-term partnerships is evident in its commitment to consistent service delivery and the strategic management of enterprise application environments on a global scale.
Key Industry Keywords and Insights
In discussing Rimini Street, it is essential to highlight industry-specific terms such as enterprise software support, subscription-based service, and cost-effective IT optimization. These keywords not only underscore the operational focus of the company but also illustrate its role in a broader market context where businesses increasingly seek innovative ways to manage software environments while mitigating rising costs.
Competitive Landscape and Value Proposition
- Cost Efficiency: By offering support at approximately half the cost of traditional vendor support fees, Rimini Street presents a compelling value proposition for organizations looking to optimize their IT budgets.
- Technical Expertise: The company’s deep-rooted technical knowledge and strong support framework enable it to address complex software maintenance challenges, ensuring high-quality service delivery.
- Client Focus: With a robust international client base, Rimini Street’s approach is characterized by proactive customer engagement and a tailored service model designed to meet the unique needs of each organization.
- Industry Recognition: The consistent acknowledgment by independent industry analysts and research firms reinforces the company’s authority and trustworthiness in the enterprise software support market.
Understanding the Business Impact
For organizations that rely heavily on enterprise software applications, Rimini Street’s service offerings provide a strategic advantage by ensuring system stability, operational continuity, and a cost-effective alternative to traditional support contracts. The comprehensive nature of its services and the company’s proactive approach to support make it a critical component for enterprises aiming to maintain competitive operational efficiency in a challenging economic climate.
Rimini Street (Nasdaq: RMNI), a global leader in enterprise software support, announced that CEO Seth A. Ravin and CFO Michael L. Perica will participate in a fireside chat with analyst Derrick Wood from Cowen on June 3, 2021, at 12:30 PM ET. The event will be streamed live at wsw.com and on Rimini Street’s Investor Relations site, which will archive the webcast for 90 days. Additionally, management is open for one-on-one meetings during the conference. Contact Rimini Street IR for scheduling.
Rimini Street, Inc. (Nasdaq: RMNI) has rescheduled its financial results report for Q1 2021 from May 5 to May 10, 2021. The company will hold a conference call on May 10 at 5:00 p.m. Eastern time to discuss the results. Rimini Street is a leading third-party support provider for Oracle and SAP products, catering to over 4,000 organizations globally. The company provides integrated application management services, enabling significant cost savings for clients.
Rimini Street (Nasdaq: RMNI), a leading provider of enterprise software support, announced its executives, including CEO Seth A. Ravin, CFO Michael L. Perica, and VP of Investor Relations Dean Pohl, will hold investor meetings at upcoming conferences. Key dates include the Needham 16th Annual Technology & Media Conference on May 19, 2021, and the Craig-Hallum 18th Annual Institutional Investor Conference on June 2, 2021. Rimini Street serves over 4,000 organizations, helping them save on software costs and improve outcomes. For more information, visit Rimini Street.
Rimini Street (Nasdaq: RMNI) has successfully completed the buyback of 60,000 shares of Series A Preferred Stock valued at $60 million, for a total cash payout of $62.3 million, including $2.3 million in dividends. This buyback, part of an ongoing effort, has reduced the overall Series A Preferred obligation by approximately 46% over the past six months. The company aims to enhance its balance sheet and move toward a net cash position. The remaining Series A Preferred Stock has a liquidation value of approximately $88 million, with future options for redemption and conversion into common stock.
Rimini Street, Inc. (Nasdaq: RMNI), a leader in enterprise software support, will announce its first-quarter earnings on May 5, 2021, after market close. A conference call to discuss the results is scheduled for the same day at 5:00 p.m. Eastern / 2:00 p.m. Pacific time. The live webcast will be accessible via the company’s Investor Relations site. Rimini Street has established itself as a trusted provider, serving over 4,000 organizations, including Fortune 500 companies, by offering premium application management and support services that drive cost savings and improve business outcomes.
Rimini Street (Nasdaq: RMNI) responded to a court ruling affirming that third-party support for Oracle's software is allowed. On March 31, 2021, the court clarified that Rimini Street can continue providing support services and found no infringement related to their support tools. While some minor violations of a prior injunction were noted, these occurred before it was in place. The court also dismissed Oracle's motions for sanctions against Rimini Street. CEO Seth Ravin highlighted Rimini's significant cost savings of over $5 billion for clients and a 23% CAGR over five years despite ongoing litigation.
Rimini Street, Inc. (Nasdaq: RMNI) has announced that Hankook Tire has switched to Rimini Street Support for its SAP ECC 6.0 applications, achieving a 50% reduction in annual maintenance fees. This strategic shift allows Hankook to focus on developing innovative technologies like artificial intelligence and digital sensors. Rimini Street provides 24/7 expert engineer support with industry-leading service levels, enhancing operational efficiency and enabling clients to invest in growth initiatives.
Rimini Street, Inc. (Nasdaq: RMNI) has announced the early redemption of 60,000 shares of its 13.00% Series A Convertible Preferred Stock, totaling $60 million, effective April 16, 2021. This follows prior repurchases amounting to $15 million. The redemption price is set at $1,039.05 per share, which includes a make-whole payment. Holders can convert their shares to common stock before the redemption date. The company may redeem up to an additional $20 million of Series A Preferred Stock before July 19, 2021. Remaining shares become redeemable by holders starting July 19, 2023.
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