Welcome to our dedicated page for Rimini Street (DE) news (Ticker: RMNI), a resource for investors and traders seeking the latest updates and insights on Rimini Street (DE) 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 (Nasdaq: RMNI), a provider of enterprise software support, announced that Malaysia's Sunway Group has chosen Rimini ONE™ for improved software support and cost optimization. Sunway aims to reallocate resources saved through Rimini Street's services towards AI and customer experience (CX) projects.
Sunway's CIO, Kevin Khoo, emphasized the cost savings and system support benefits from Rimini Street. Initially using JD Edwards for ERP across 13 businesses, Sunway faced high costs and downtime with software upgrades. Rimini Street offers expert support, including for customizations, at no extra charge and guarantees 15 additional years of stable ERP investment.
Since the partnership, Sunway has saved 50% on annual support fees and up to 90% on total support costs, allowing reinvestment into strategic tech projects, including AI. Rimini Street's dedicated support has enabled Sunway to focus on innovation and digital transformation.
Rimini Street (Nasdaq: RMNI) has announced the global launch of comprehensive support, security, and consulting services for VMware products. This offering includes Rimini Support™, Rimini Protect™, and Rimini Consult™ services. The new services are aimed at perpetually-licensed VMware users facing significant annual fee increases by VMware. Rimini Street's support guarantees a 10-minute response for critical issues and includes a primary support engineer with an average of 15 years of experience. Clients can also benefit from proactive security measures and expert consulting to optimize their current infrastructure.
Pacific Healthcare Group has selected Rimini Street for support of its on-premises Oracle environment, enabling the company to avoid costly cloud migrations and focus on strategic growth and digital innovation. Headquartered in Bangkok, Thailand, Pacific Healthcare Group supports over 50 brands in 20 countries, connecting with 600 million patients globally. By choosing Rimini Street, the company gains dedicated support, quick issue resolution, and an additional 15 years of product support, thus ensuring operational stability and freeing up resources for other projects.
Rimini Street, Inc. (Nasdaq: RMNI) has been awarded four 2024 Top Rated Awards by TrustRadius in categories like Implementation Services, Consulting and Advisory Services, IT Professional Services, and Managed IT Services. Rimini Street's exceptional customer reviews were the basis for winning these awards, showcasing their dedication to customer satisfaction.
Rimini Street, Inc. (Nasdaq: RMNI) announced its fiscal first quarter 2024 financial results, reporting a revenue increase, growth in Annualized Recurring Revenue, and Active Clients. However, the company saw a decrease in gross margin, operating income, net income, and Non-GAAP operating income. Rimini Street also refinanced its Original Credit Facility and made executive appointments. The Company did not provide guidance due to ongoing litigation with Oracle.
FAQ
What is the current stock price of Rimini Street (DE) (RMNI)?
What is the market cap of Rimini Street (DE) (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.?
