Search Icon

Rimini Street Increases Revenue in Europe by 67% and Expands European Operations

Opens new office in Sweden and increases headcount by 51% year over year

LAS VEGAS and LONDON, November 10, 2016Rimini 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, Oracle Agile PLM and Oracle ATG Web Commerce software, today announced its expanded presence and investment in Europe in response to increasing demand for the Company’s premium-level Oracle and SAP enterprise software support. The Company announced that its revenue in the region increased by 67% for the 12-month period ending September 30, 2016. Rimini Street also increased its total signed clients in the region by 41% year over year as of September 30, 2016. To meet this growing client demand, the Company expanded its presence in Europe with a new office in Stockholm, Sweden and doubled its current office space in London, England. Rimini Street also increased its workforce by 51% year over year as of September 30, 2016.

Market Conditions a “Perfect Storm” in the Region

A common denominator throughout the region is the pressure CIOs face to maximize the ROI across their entire IT landscape. At the same time, CIOs are getting the directive from their CEO and the business that they need to invest more in digital transformation initiatives such as mobile, big data, and cloud that will help the business grow and evolve to stay competitive. According to Gartner’s annual CIO Agenda Report, of the CIOs surveyed in Germany, 42% expect their IT budgets to remain flat1. In France, 24% of the CIOs surveyed said that they are faced with a decrease of their IT spending2. And according to a recent study conducted by Deloitte, 58% of UK CFOs expected Brexit to lower their capital spending for the next three years3. The challenge of reducing spend on capital investment such as existing IT infrastructure, while at the same time searching for ways to liberate funds that can be redirected into strategic growth initiatives, has accelerated demand for Rimini Street’s award-winning enterprise software support. Clients immediately save 50% on their annual maintenance fees by making the switch from the vendor to Rimini Street, and can save up to 90% on their total cost of maintenance which frees up precious funds for other key initiatives.

“With Oracle, we were always tiptoeing around any customizations that we added because invariably we were told, ‘we can’t help you since you’ve customized that particular part of the application.’ This meant we had to employ a self-support approach, which increased our total cost of maintenance beyond even the high annual support fees from the vendor,” said Randy Martin, director of Corporate Systems, Atkins. “With Rimini Street, customization support is included as a standard component of their service and support model. In addition, by making the move to Rimini Street support we have been able to redirect resources to more strategic initiatives across the organization.”

Rimini Street opened its European headquarters in London in 2012, and recently doubled the size of its office to accommodate growth. The Company opened its office in Stockholm in May 2016. Rimini Street now services more than 168 global organizations with operations in Europe including local brands Albani Group GmbH, Atkins Global PLC, Aurivo Co-operative Society Ltd, Brand Energy and Infrastructure Services, Cape PLC, and Vinci Energies Systemes d’Information.

“We have had significant growth throughout Europe as CIOs continue to recognize the importance of shifting investment from maintenance to digitalization for their companies’ future,” said Jill Harrison, managing director, Rimini Street Europe. “Our conversations with CIOs are focused on how they can maximize the ROI on their stable, ERP system and at the same time liberate funds and free up resource for more strategic programs that will really make a difference for their business. Independent support from Rimini Street helps these companies break free from the mandatory evolution path the vendors dictate they follow—a path that creates significant burden on their resources and provides little value to their business.”

1 Gartner, February 2016 CIO Agenda: A Germany and DACH Region Perspective.

2 Gartner, February 2016 CIO Agenda: A France Perspective.

3 Deloitte, The Deloitte CFO Survey, Q2 2016.

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.

###

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.

+1 203 347-4446 dpohl@riministreet.com
Media Relations Contact
Michelle McGlocklin

Rimini Street, Inc.

This website has been built using modern web standards not fully supported by your browser. Please consider updating your browser.

Upgrade Today