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Rimini Street Included in Prestigious Group of Private Software Companies as Financial Analysts Take Note of Innovative Software Support Model and Fast-Growing Client Base
Las Vegas, June 2, 2009 - Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including Oracle Corporation's (NASDAQ: ORCL) Siebel, PeopleSoft, and JD Edwards software, and SAP AG (NYSE:SAP) software, today announced that it was named to JMP Securities' Hot 100 for 2009. JMP Securities, a San Francisco-based investment bank, recently included Rimini Street in a published report entitled, "The Hot 100: The Best Privately Held Software Companies." The report profiles 100 of the leading private companies in the software industry, as identified by the software research team at JMP Securities.
"We are very pleased and humbled to receive this recognition from JMP Securities," said Seth Ravin, president and CEO, Rimini Street. "In today's challenging business environment, lowering IT costs and driving more value from enterprise software investments have become major initiatives for organizations of all sizes and across all industries. As more organizations discover that third-party support can help achieve both objectives, I expect demand for our enterprise software support programs will continue to accelerate around the world."
In addition to being named to the JMP Hot 100 for 2009, Rimini Street was recently selected to present at premier financial industry conferences.
Rimini Street was a featured speaker at the Eighth Annual JMP Securities Research Conference held this May in San Francisco, discussing the rapidly growing third-party support market and its impact on the enterprise software industry. The three-day event showcased more than 200 small-cap and mid-cap public companies as well as a select group of fast-growing private companies across a variety of business sectors.
Also in May, Rimini Street CEO Seth Ravin was a featured panelist at the Cowen Technology Conference in New York, a two-day event that attracted top institutional investors and leading companies in the technology sector. Ravin participated in a panel discussion with other industry executives about the future of high software maintenance margins, the advantages of third-party support programs that deliver more services at a significantly lower cost, and the potential impact that these factors will have on the stock value of publicly-traded software firms.
In January, Rimini Street reported strong results for 2008, including a quadrupling of sales and revenues compared to the previous year, over 90% renewal rates, and international expansion in Europe and Asia. Driving this business performance is Rimini Street's high-value support program that saves clients at least 50% in annual support fees and adds innovative services that are not typically part of standard vendor support and maintenance programs, including support for customized code, interoperability, and performance tuning.
This recognition follows the recent announcement by Rimini Street of the immediate availability of support for SAP products. Rimini Street's SAP support program targets another substantial global market for enterprise software support beyond the company's industry leading, third-party support programs for Oracle's PeopleSoft, Siebel and J.D. Edwards products.
Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, next-generation program that enables Siebel, PeopleSoft, JD Edwards, and SAP licensees to save at least 50% in annual support fees and to remain on their current software release without any required upgrades or migrations through 2020 and beyond. Global, Fortune 500, mid-market, and public sector organizations from nearly all industries have selected Rimini Street as their trusted, software vendor independent support provider. To learn more, please visit http://www.riministreet.com or call (888) 870-9692.
Rimini Street and the Rimini Street logo are trademarks of Rimini Street, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2009. All rights reserved.