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Rimini Street Expands APAC Investment to South Korea and Appoints IT Industry Veteran to Lead New Operations

Leading global provider of enterprise software support for SAP and Oracle products builds on 90% APAC region revenue growth and fast-growing base of 25 clients with South Korean operations

LAS VEGAS, August 16, 2016 Rimini Street, Inc., the leading global independent provider of 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 and Oracle Agile PLM, today announced its expanded investment and presence in the APAC region with the launch of its local operations in South Korea. Rimini Street also announced the appointment of Sangyoul Kim as country manager, South Korea. In this newly created role, Mr. Kim is responsible for leading the growth and development in the region, which represents the twelfth largest economy in the world and a large market opportunity for the Company. Rimini Street’s expansion to South Korea is driven by strong local demand for its award-winning, premium enterprise software support that delivers a comprehensive, hyper-responsive, support alternative as compared to expensive Oracle and SAP vendor maintenance. Rimini Street’s investment in South Korea builds on the Company’s accelerating growth trajectory in the APAC region that includes a 90% increase in APAC revenue for the 12-month period ending June 30, 2016, compared with the prior 12-month period. Rimini Street’s support is available immediately for South Korean companies.

Strong Demand Drives Rimini Street Expansion into South Korea

South Korea is one of the most highly developed information and communications technology markets in the world and has been part of the Company’s planned growth strategy in the APAC region. The region is rapidly growing for Rimini Street, with a 117% increase in total signed clients to date for the 12-month period ending June 30, 2016, compared with the prior 12-month period.

Rimini Street has opened its local office in Gangnam District, Seoul, and already supports a fast-growing base of 25 clients with South Korean operations, including large established global brands such as NCH Corporation, Transaction Network Services and EBSCO. These enterprises benefit from significant annual savings compared to software vendor maintenance fees, and enjoy ultra-responsive support with an average engineer response time of less than five minutes for urgent cases.

New Leader Brings Enterprise Software and CIO Experience

As Rimini Street South Korea’s new country manager, Sangyoul Kim will lead the sales and delivery of Rimini Street’s award-winning premium software support service. Mr. Kim is a seasoned IT industry veteran with more than 20 years of experience in software implementation, software upgrades, consulting, outsourcing, sales, and delivery, working with many of South Korea’s leading IT and industrial companies.

Mr. Kim held management positions at EDS Korea and A.T. Kearney, and most recently served as executive vice president of ISTN, where he was responsible for IT service sales and delivery. He also served previously as executive vice president of DBCS, overseeing IT service sales and delivery and as the CIO of Hanwha Group, where he was responsible for strategic IT investments and innovation initiatives for more than 15 Hanwha affiliates. During his career, Mr. Kim has provided IT consulting services to many well-known South Korean companies including Samsung, Hyundai, LG, Lotte Group and Korea Telecom.  Mr. Kim served as an officer in the ROK Army, and received M.S. and Ph.D. degrees in Industrial Engineering from Seoul National University.

“Economic challenges, increased global competition, and a need for growth are forcing South Korean companies to achieve cost reduction, enable business innovation and improve efficiencies. Accordingly, CIOs are finding it increasingly hard to justify the high cost of their SAP and Oracle enterprise software maintenance and support in comparison to the value received. IT leaders in South Korea want to invest in big data, cloud, IoT and other disruptive technologies to help their organizations drive greater growth, but are struggling to find the IT budgets required to make these important, game-changing investments,” said Mr. Kim. “This is why there is such strong demand for Rimini Street independent software support in South Korea as a solution to these challenges. Rimini Street is the global leader in independent maintenance services for more than a decade, proven at over 1,450 successful clients, including over 135 Fortune 500 and Fortune Global 100 clients. We look forward to enabling South Korean businesses to benefit from Rimini Street’s premium, hyper-responsive support model that provides support for a guaranteed minimum of 15 years without any required upgrades, and that can save clients up to 90 percent in total maintenance costs.”

“For over a decade, Rimini Street has been focused on developing and delivering the most robust and innovative independent software support program available today, and we are pleased to officially launch our local operations in South Korea, led by our new country manager, Sangyoul Kim. South Korea is the third largest economy in Asia, and is already demonstrating strong demand for our support services,” said Seth Ravin, CEO, Rimini Street. “We have helped numerous SAP and Oracle licensees around the world maximize their IT investments and realize greater innovation agility, and look forward to continuing our expansion and presence in accordance with our global business plan.”

To learn more, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. Over 2,000 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries rely on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn.

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Forward-Looking Statements

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 expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. 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 developments in pending litigation (including our pending appeal of the permanent injunction) or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 7, 2019, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. 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

© 2020 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

Investor Relations Contact
Dean Pohl

Rimini Street, Inc.

+1 925 523-7636 dpohl@riministreet.com
Media Relations Contact
Michelle McGlocklin

Rimini Street, Inc.

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