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Company Surpasses Operating Goals and Expands Coverage to Canada
LAS VEGAS, July 2, 2007 - Rimini Street, Inc., the leading independent maintenance and support provider for Siebel, PeopleSoft, and JD Edwards (NASDAQ: ORCL) software, today announced that it achieved significant sales and service milestones during the first half of 2007, with both Q1 and Q2 new client sales exceeding plan with strong consecutive quarter-over-quarter growth and expansion; Q2 setting a new company performance record in new clients, sales bookings, and average sales price (ASP); and Q2 expansion of its support service offerings to Canada.
Rimini Street saw continued strong growth in new clients across all commercial industries and the public sector. A sample of recent new clients includes: Amica Mutual Insurance Company; Brazoria County, Texas; ShopKo Stores; City of Eugene, Oregon; McKee Foods; Moraine Park Technical College; and Correctional Medical Services.
With a management team that has many years of experience successfully delivering alternative support services to more than 150 Fortune 500, mid-market, and public sector clients using Siebel, PeopleSoft, and JD Edwards products, Rimini Street continues to help its fast-growing client base collectively save millions of dollars in annual support costs for years to come with a higher level of service and no required, costly upgrades.
In response to strong market demand for higher-value alternative support programs and savings in Canada, Rimini Street officially began serving the Canadian market in Q2. New Rimini Street clients being served in Canada include Dofasco, Canada's largest steel manufacturer, and operating entities within Integrys Energy Group.
Rimini Street continued to leverage its Tax and Regulatory Team's experience delivering more than 600 US and Canadian tax and regulatory update packages to provide on-time delivery of many high quality updates to clients in both Q1 and Q2. With the fastest "legislature-to-live" update delivery cycle in the industry, Rimini Street has been able to consistently provide the latest tax and regulatory updates to its clients approximately a week ahead of Oracle's own planned release date for its equivalent tax and regulatory updates.
"Rimini Street continues to execute against its business plan, exceeding growth plans for new clients, market share, and service offerings," said Seth Ravin, president and CEO, Rimini Street. "The second quarter included record new clients, a four-fold increase in quarter-over-quarter sales bookings, continued growth in deal ASP, and strong, growing win rates against the competition. More and more organizations are attracted to our vendor-neutral service offering that provides clients with choice and value, as well as independence from software vendor agendas. Unlike Oracle and SAP, Rimini Street's independence gives us the ability to focus on serving the needs of our clients as a trusted advisor with no agenda to push costly upgrades or migrations to new systems."
Rimini Street is the leading independent provider of enterprise software support services. The company is redefining enterprise support services with an innovative, next-generation program that enables Siebel, PeopleSoft, and JD Edwards licensees to remain on their current software release without any required upgrades or migrations through 2020 and beyond. In addition to a higher service-level commitment, Rimini Street provides customers with an average savings of more than 50 percent in annual support fees when compared to Oracle. To learn more, please visit www.riministreet.com or call (702) 839-9671.
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 © 2007. All rights reserved.