Company grows client base in Russia and launches sales in Poland; already supports 86 organizations in the region
LAS VEGAS-Tuesday 7 May 2019 [ AETOS Wire ]
(BUSINESS WIRE) -- Rimini Street, Inc. (Nasdaq:
RMNI), 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, today announced it has further
expanded its operations in Eastern Europe to address the increasing
demand for the Company’s award-winning, ultra-responsive support
services in the region.
Strong and Growing Demand in Eastern Europe
Rimini
Street began selling in Russia in 2018, and recently expanded its
client base there with new premier domestic clients like Bank Zenit and
Ingosstrakh. The Company also recently launched sales in Poland,
building on its growing presence in the region, and today, supports 86
organizations with operations in Eastern Europe. The Company has also
hired new staff, including experienced local language engineers, to
support the next phase of growth in this region.
Enabling a Business-Driven IT Roadmap
Around
the world, CIOs are challenged with doing more with less, and are
increasingly tasked by the CEO to support growth of the organization
through innovation and digital transformation. However, according to
industry analysts, as much as 90% of IT budgets are directed to daily IT
operations, leaving as little as 10% for investment in strategic
initiatives that help the company grow and maintain its competitive
edge. In Russia specifically, while digital ambitions are high, 70% of
Russian CIOs have not matured digital past the initiating phase1, indicating that lack of time, money and resource could be a contributing factor.
CIOs
need to find more capacity in their IT roadmaps to fund and complete
business transformation initiatives, but are often at the mercy of
vendor-dictated roadmaps of mandatory upgrade cycles, forced migrations,
and expensive recurring costs associated with maintaining their core
enterprise system. Switching from software vendor support to Rimini
Street support can significantly reduce the proportion of IT budget that
is spent on daily operating costs, allowing much more budget to be
invested for innovation, competitive advantage and growth. This shift
allows the CIO to take back control of their IT roadmap and assure it is
driven by the businesses’ needs going forward, rather than dictated by
the software vendor.
“We
established and are growing our presence in Eastern Europe to meet the
strong and growing demand for better support options in the region for
SAP and Oracle software,” said Jack Oster, general
manager, Israel & Eastern Europe, Rimini Street. “The opportunity
for Rimini Street’s unique support model and services is high across the
region as CIOs struggle with the need to optimize service and costs
across their IT landscape and expand their ability to deliver innovation
to the business. They are looking for a more value-driven, flexible
approach that doesn’t lock them in to one vendor and puts them back in
control of their enterprise software roadmap.”
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
has redefined enterprise software support services since 2005 with an
innovative, award-winning program that enables licensees of IBM,
Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors
to save up to 90 percent on total maintenance costs. Clients can remain
on their current software release without any required upgrades for a
minimum of 15 years. Over 1,800 global Fortune 500, midmarket, public
sector and other organizations from a broad range of industries
currently rely on Rimini Street as their trusted, third-party support
provider. To learn more, please visit http://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-RMNI)
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 or in the government inquiry or any new litigation; the final
amount and timing of any refunds from Oracle related to our 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 success of our recently introduced products and
services, including Rimini Street Mobility, Rimini Street Analytics,
Rimini Street Advanced Database Security, and services for Salesforce
Sales Cloud and Service Cloud products, in addition to 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 Annual
Report on Form 10-K filed on March 14, 2019, and as updated from time to
time by Rimini Street’s future 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.
©
2019 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.
1 Gartner: “2018 CIO Agenda: A Russia Perspective,” May 28, 2018
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Contacts
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com
