Rimini Street Increases Investment in Australia and New Zealand, Opens New Melbourne Office
Company more than doubles Oracle and SAP clients signed; Now servicing nearly 90 organizations in the region
LAS VEGAS, October 31, 2016 - Rimini Street, Inc., the leading global provider of independent enterprise software support services for SAP SE's (NYSE:SAP) Business Suite, BusinessObjects and HANA Database software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail, Oracle Agile PLM and Oracle ATG Web Commerce software, today announced its continued growth and investment in Australia and New Zealand due to accelerated demand for the Company's premium-level enterprise software support for Oracle and SAP licensees. The Company announced that its total signed clients in the region as of the third quarter ending September 30, 2016 increased by 109% year over year. To meet this growing client demand, the Company also expanded its presence in the region with the opening of a new office in Melbourne, and increased its workforce by 52% year over year as of September 30, 2016. Australia is currently the eighth largest enterprise application software market in the world, with annual revenues estimated at $4.2 billion1.
Growing Pressures in the Region Further Stimulate Demand
CIOs and IT leaders in Australia and New Zealand face increasing pressure from their organizations – on the one hand they are tasked with maximizing the ROI across their IT landscape and maintaining what they have to ensure it runs smoothly. On the other hand, these IT leaders are asked to explore and implement digital transformation initiatives to help their business grow and remain competitive. With industry analysts citing that up to 89% of IT budgets are spent on ongoing operations, this leaves little budget left over to implement the more strategic programs that can make the biggest difference for an organization.
“SAP is a critical system for our company and it will continue to serve our business well for many years,” said Tanya Whiteing, Acting CIO at George Weston Foods Limited (GWF). “Engaging Rimini Street has enabled GWF to substantially lower the ongoing cost of ownership for our on-premises SAP applications. This will allow us to pass direct savings to the business as well as to fund new innovation.”
Rimini Street Continues Growth and Investment in Australia and New Zealand
In addition to the increase in the number of signed clients and global headcount, Rimini Street also achieved a 78% revenue growth across all its Oracle product lines for the 12-month period ending September 30, 2016, compared to the prior 12-month period, and an increase of 52% year over year for its SAP product support revenue during the same period.
The Company opened its Sydney headquarters in 2008, and today supports a total of 88 global organizations with operations in Australia and New Zealand, including 10 of the ASX Top 50 companies. Clients in the region who recently made the switch to Rimini Street support include Betfair Pty Limited, ActewAGL, The New Zealand Refining Company, George Weston Foods Limited, Murrin Murrin Operations Pty Ltd, and Viva Energy Australia Pty Ltd.
“This year we’ve seen a spike in client demand not only from commercial entities but also government organizations across Australia and New Zealand,” said Andrew Powell, managing director, Rimini Street APAC and Middle East. “As the market matures and organizations become increasingly canny about their IT spend, we find that many CIOs are simply not willing to pay high vendor maintenance fees anymore. By switching to Rimini Street support, these businesses can save up to 90% of their total cost of maintenance and reinvest their savings in areas of strategic importance instead of continuing to spend needlessly on ongoing operations.”
About Rimini Street, Inc.
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees 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 1,600 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “plan,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
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1 Gartner Forecast: Enterprise Software Markets, Worldwide, 2012-2019, 2Q15 Update. Gartner, Inc.