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.
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Rimini Street Expands Investment and Operations in Eastern Europe (Photo: Business Wire)
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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