Street Wise Newsletter

The Wall Street Journal and Gartner Research are part of a growing chorus of voices recognizing the increasing number of enterprise software customers finding value in a switch to independent support. The continued success of our clients enables all of Rimini Street’s growth, and in that context, I want to thank you for playing a part in Rimini Street being named a "Fastest-Growing Private Company" by Inc. magazine for the fifth year in a row.

This issue of Street Wise includes recently published reports on independent support and also highlights the customer success that continues to fuel Rimini Street's expansion into new markets and geographies.

— David Rowe, CMO


Rimini Street Featured in The Wall Street Journal

In articles appearing online and in print, The Journal reports, “CIOs want to shift more of their IT budget to projects that can help grow the business,” with many CIOs “tired of paying Oracle premium for bug fixes, updates and other tweaks they say they don’t need.” Several Rimini Street clients are featured, including CIOs from Valspar and Dean Foods.

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Gartner Seeing Steady Increase in Inquiries about Cancelling Maintenance Agreements with ERP Vendors

A growing number of enterprise software licensees are considering alternatives to annual maintenance from the enterprise software vendor. IT organizations are increasingly being asked to shift spending away from maintaining the status quo to supporting core business growth objectives. While the market for independent support options has matured, software licensees still have many questions and misperceptions regarding the cancelling of vendor maintenance agreements. Addressing those questions and misperceptions is the purpose of Gartner’s informative report, “What to Consider Before Cancelling Your ERP Vendor’s Maintenance Agreement and Switching to Third-Party Support.”

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Named to Inc. Magazine’s “Fastest-Growing Private Company” list for Fifth Year in Row

Rimini Street joined an elite group of companies being named to Inc. magazine’s 2015 Inc. 5000 list for the fifth consecutive year. In an exclusive ranking based on percentage revenue growth from 2011 to 2014, Rimini Street grew 160%, making it one of the nation’s fastest-growing private companies.

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Client Spotlight: All Weather Windows Leverages Independent Support for Oracle EBS and Database to Drive the Business

For manufacturer All Weather Windows, switching to Rimini Street Support has freed up resources, allowing the company to move the IT department and the business forward to embrace and support newer technologies. AWW also benefits from receiving combined support from Rimini Street for its Oracle Database platform as well as its EBS applications.

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Rimini Street Continues Expansion, Investment in Las Vegas and Latin America to Support Growth

In August, the Company launched “Phase II” of its facility expansion at its worldwide headquarters in Las Vegas and commemorated the event with a ribbon-cutting ceremony involving government representatives and community leaders. The new facility will seat 60 new hires.

Rimini Street also appointed industry veteran Edenize Maron as GM, Latin America, in a new role created to promote continued growth and development of this fast-growing region. Today, Rimini Street supports 60+ clients operating in the region, including well-known Brazilian companies such as Embraer, Positivo Informatica and Gol Linhas Aereas.

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Q2 Financial Results — Thirty-Eight Consecutive Quarters of Growth

For the second quarter of 2015, Rimini Street reported net revenues of $27.8 million, up 36% year-over-year, and deferred revenues of $91.4 million, up 49% year-over-year. Additional highlights:

  • Billings were $32.4 million, up 55% year-over year.
  • The Company closed its single largest Oracle support contract to date at $6.5 million first-year fees.
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