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Rimini Street Approved for UK Government TS2 Framework
Company receives updated accreditation for UK government's procurement system; significantly increases UK public sector client base
LAS VEGAS, June 13, 2018 - Rimini Street, Inc., (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced the Company has become a third-party support provider for the Technology Services 2 (TS2) Framework, under the contract ID RM3804. Rimini Street has passed a rigorous qualification process to be approved as a quality tested supplier for the UK Government TS2 framework under Lot 3 Operational Services. The Company is listed as a service provider on the UK government website, offering third party software support for Oracle, SAP, IBM and Microsoft products. Rimini Street is also a registered supplier under the G-Cloud 9 framework, which provides public sector organizations with options to choose and purchase cloud computing services covering infrastructure, platform, software and specialist cloud support services.
The UK Government TS2 framework is administered by Crown Commercial Service (CCS), an executive agency of the UK Cabinet Office which supports the UK public sector to achieve maximum commercial value when procuring common goods and services. The TS2 framework provides every public sector customer's Information and Communications Technology (ICT) service requirement, including services at all government security classification levels. As a supplier for the TS2 Framework, Rimini Street is part of the UK Government's program to provide its services to organizations considering third party support, and can be easily found through the government's centrally managed procurement system.
Ultra-Responsive, Premium Software Support Services for Growing Public Sector Client Base
In 2017, Rimini Street added 20 new public sector clients, including one of the UK's largest local authorities in the South of England. When switching to Rimini Street, public sector entities can optimize the cost of operating and supporting their software, reducing their total maintenance costs by up to 90 percent. This enables public sector organizations to save significant funds, reduce waste and maximize the value of their current ERP systems for a minimum of 15 additional years after switching to Rimini Street support. In addition to savings realized, Rimini Street's public sector clients also receive a more comprehensive, responsive service.
Rimini Street's award-winning customer service provides a more complete support program with capabilities not offered through standard vendor maintenance, including support for customizations, interoperability and performance tuning. All Rimini Street clients are assigned a Primary Support Engineer (PSE) who has an average of 15 years' experience in the client's specific software product line. Rimini Street has hundreds of PSE's around the world, a service model that provides support 24/7/365 days a year, and a guaranteed service level agreement of 15-minute response time for all critical cases - all delivered at half the original software vendor's annual support fee.
About TS2 Framework
The TS2 framework was developed to give all public sector organizations access to suppliers of technology services, such as: technology strategy, service design, transition and transformation and operational services. Effective September 2017, the new framework includes, but is not limited to, Rimini Street services that were previously provided under Enterprise Application Support Services (RM1032) used for support of large enterprise level applications, typically Oracle or SAP. The TS2 framework was designed to service the smallest IT needs through to critical central government systems, both at the Government's Official, Secret and Top Secret security classifications.
"Today, UK public sector CIOs and IT leaders are faced with the challenging task of saving time, resources and budget while finding new ways to focus on more innovative, strategic digital programs that can make a tremendous difference to their organization overall," said Seth A. Ravin, Rimini Street CEO. "With Rimini Street support, public sector organizations of all sizes can achieve maximum ROI on their existing ERP landscapes, and can free up internal resources and liberate substantial savings to redirect into their digital transformation initiatives."
About Crown Commercial Services
The Crown Commercial Service (CCS) is an executive agency and trading fund of the Cabinet Office of the UK Government. The CCS is responsible for improving government commercial and procurement activity.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products. 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 support costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,580 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 https://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-RMNI)
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may," "should," "would," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "seem," "seek," "continue," "future," "will," "expect," "outlook" or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our second quarter and annual 2018 revenue guidance, industry, future events, future opportunities and growth initiatives, hiring plans, estimates of Rimini Street's total addressable market, and projections of customer savings. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street's business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse litigation developments or government inquiry; the final amount and timing of any refunds from Oracle related to our litigation; our ability to refinance existing debt on favorable terms; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products; the loss of one or more members of Rimini Street's management team; uncertainty as to the long-term value of RMNI common stock; and those discussed under the heading "Risk Factors" in Rimini Street's Annual Report on Form 10-K filed on March 15, 2018, as updated from time to time by Rimini Street's Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. There may be additional risks that Rimini Street presently knows or that Rimini Street currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements provide Rimini Street's expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street's assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street's assessments as of any date subsequent to the date of this communication.
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