Rimini Street More than Quadruples Sales in 2007
Company Surpasses Operating Goals, Launches New Service Offering and Expands Coverage to Europe
LAS VEGAS, January 22, 2008 - Rimini Street, Inc., the leading independent maintenance and support provider for Siebel, PeopleSoft, and JD Edwards (NASDAQ: ORCL) software, today announced that it achieved record Q3 and Q4 results and surpassed full year 2007 operating plans. Building on record setting growth in the first half of 2007, both Q3 and Q4 client sales exceeded plan at record levels with Q4 setting an all time high for new clients, sales bookings, and average sales price (ASP); a win rate against other competing third party support providers approaching 90%; and Q4 expansion of its support coverage to Europe and launch of a new service offering for PeopleSoft Campus Solutions software inaugurated with substantial new European and higher education institution wins.
Fielding the most experienced management team in the industry that has delivered independent support services to more than 150 Fortune 500, mid-market, and public sector entities using Siebel, PeopleSoft, and JD Edwards products, Rimini Street saw continued sales acceleration and record client growth in the second half of 2007 with strength across a wide range of industries, sizes of organizations, and product lines.
A sample of recent new clients includes: Virgin Mobile USA, City of Ontario (California), Santa Fe Natural Tobacco Company, Knoxville Utilities Board, Terra Industries, Sam Houston Electric Co-Operative, Heald College, Pittsburgh Public Schools, Abilene Independent School District, and McLennan County (Texas). Clients chose Rimini Street for its innovative, next-generation support program, proven tax and regulatory updates, enthusiastic client references, savings of at least 50% in annual support fees, and the ability to run their current, stable releases for many years to come with no required upgrades.
"We wanted more value for our annual support fees, not just lower fees. We needed more responsive and comprehensive service and support to maximize the value of our PeopleSoft investment," said Rusty Gaston, CIO, Santa Fe Natural Tobacco Company. "Rimini Street has delivered a level of value and service that has exceeded our highest expectations. Rimini Street's experienced support team operates as an extension of our internal team, delivering excellent support and high quality, mission-critical deliverables on or ahead of schedule. Rimini Street's incredibly responsive service, combined with savings of at least 50% in annual support fees, represents a great value any CIO should seriously consider."
New Service Offering and Expanded Coverage
In response to strong market demand, Rimini Street announced the immediate availability of Rimini Street Support for PeopleSoft Campus Solutions in Q4, providing higher education institutions the same service, cost savings, and value already enjoyed by licensees of other PeopleSoft product lines. Rimini Street also announced its first clients who are immediately benefiting from the new service offering.
Additionally, in Q4 Rimini Street expanded coverage of its service offerings into Europe to meet the growing global demand for Rimini Street support services. Rimini Street inaugurated its expanded service with a major new European client win.
Best Support Value
"Rimini Street is working to provide its clients the best support value in the industry with ultra-responsive service, significant cost savings, and IT budget flexibility," said Seth Ravin, president and CEO, PeopleSoft Support Services. "Rimini Street continues to execute against its business plan, exceeding growth plans with a more than four-fold increase in sales, new service offerings, and expanded coverage. Going forward, we will continue to aggressively innovate our service offering to provide even more value for our clients, and continue working to earn the privilege and responsibility of being the most trusted independent provider of support for Siebel, PeopleSoft, and JD Edwards to clients around the world."
About Rimini Street, Inc.
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 http://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 © 2008. All rights reserved.