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Rimini Street Expands Latin America Operations with New Subsidiary in Mexico
Company already supports more than 100 clients with operations in Mexico
LAS VEGAS, June 6, 2019 - Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that it has expanded its Latin America operations with the launch of its new subsidiary, Rimini Street de Mexico, S. de R.L. de C.V., opening of its new office in Mexico City and hiring of staff. The Company's investment is in response to its growing client base with operations in Mexico and accelerating local demand for its portfolio of award-winning, ultra-responsive enterprise software support services.
Mexico is Key Strategic Expansion in Latin America
With the second-largest economy in Latin America, Mexico is a key part of Rimini Street's strategic expansion plans in the region. The Company's team in Mexico will focus on supporting and expanding its growing list of more than 100 clients with operations in Mexico, from global organizations to local enterprises. To further bolster its capabilities in the country, the Company has hired new marketing, sales and service delivery engineers. Rimini Street Mexico will be led by Edenize Maron, Rimini Street's general manager of Latin America who has overseen the Company's operations in the region since 2015 from the Company's Latin America regional headquarters in Sao Paulo, Brazil.
Helping CIOs Take Control of IT Roadmap
According to Gartner1, ERP software revenue in Mexico is forecasted to grow to $295.2 million in 2019, an 11.37% increase over 2018. CIOs in Mexico, like their counterparts around the world, must optimize IT spending, improve competitive advantage and drive growth. However, industry analysts maintain that for many organizations, as much as 90% of overall IT budgets are spent on daily operating costs, leaving as little as 10% of IT budgets to invest in strategic initiatives that create competitive advantage and enable growth.
Switching to Rimini Street support from software vendor support can significantly reduce the proportion of IT budget that is spent on daily operating costs, enabling organizations to reallocate much more of the IT budget for investments in innovation. Clients that switch to Rimini Street third-party support are also freed from the vendor-mandated roadmaps of expensive and recurring forced upgrades, migrations and vendor lock-in. With this shift, CIOs can take back control of their IT roadmap and investment strategy.
"Now, more than ever, CIOs in Mexico are challenged with optimizing their IT spend and investing more to drive competitive advantage and growth. Rimini Street has the products, services, strategies and experience to help Mexican organizations achieve these critical business goals," said Ms. Maron. "Today, we are already a trusted partner to more than 100 clients operating in Mexico who are leveraging a better alternative to high-cost, low-value SAP and Oracle support programs, and we are looking forward to helping many more Mexican organizations take the necessary steps that will put them back in control of their own IT roadmaps."
1 Gartner, Inc. "Forecast: Enterprise Application Software, Worldwide, 2017-2023, 1Q19 Update." March 25, 2019.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,850 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit http://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)
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