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 that it has expanded its Latin America operations with the
launch of its new subsidiary, Rimini Street de Mexico, S. de R.L. de
C.V., opening of its new office in Mexico City and hiring of staff. The
Company’s investment is in response to its growing client base with
operations in Mexico and accelerating local demand for its portfolio of
award-winning, ultra-responsive enterprise software support services.
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Rimini Street already supports more than 100 clients with operations in Mexico (Photo: Business Wire)
Mexico is Key Strategic Expansion in Latin America
With the second-largest economy in Latin America, Mexico is a key part
of Rimini Street’s strategic expansion plans in the region. The
Company’s team in Mexico will focus on supporting and expanding its
growing list of more than 100 clients with operations in Mexico, from
global organizations to local enterprises. To further bolster its
capabilities in the country, the Company has hired new marketing, sales
and service delivery engineers. Rimini Street Mexico will be led by Edenize
Maron, Rimini Street’s general manager of Latin America who has
overseen the Company’s operations in the region since 2015 from the
Company’s Latin America regional headquarters in Sao Paulo, Brazil.
Helping CIOs Take Control of IT Roadmap
According to Gartner1, ERP software revenue in Mexico is
forecasted to grow to $295.2 million in 2019, an 11.37% increase over
2018. CIOs in Mexico, like their counterparts around the world, must
optimize IT spending, improve competitive advantage and drive growth.
However, industry analysts maintain that for many organizations, as much
as 90% of overall IT budgets are spent on daily operating costs, leaving
as little as 10% of IT budgets to invest in strategic initiatives that
create competitive advantage and enable growth.
Switching to Rimini Street support from software vendor support can
significantly reduce the proportion of IT budget that is spent on daily
operating costs, enabling organizations to reallocate much more of the
IT budget for investments in innovation. Clients that switch to Rimini
Street third-party support are also freed from the vendor-mandated
roadmaps of expensive and recurring forced upgrades, migrations and
vendor lock-in. With this shift, CIOs can take back control of their IT
roadmap and investment strategy.
“Now, more than ever, CIOs in Mexico are challenged with optimizing
their IT spend and investing more to drive competitive advantage and
growth. Rimini Street has the products, services, strategies and
experience to help Mexican organizations achieve these critical business
goals,” said Ms. Maron. “Today, we are already a trusted partner to more
than 100 clients operating in Mexico who are leveraging a better
alternative to high-cost, low-value SAP and Oracle support programs, and
we are looking forward to helping many more Mexican organizations take
the necessary steps that will put them back in control of their own IT
roadmaps.”
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 1,850 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.
(IR-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 Quarterly Report on Form 10-Q filed on May
9, 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.
© 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, Inc. “Forecast: Enterprise Application Software,
Worldwide, 2017-2023, 1Q19 Update.” March 25, 2019.
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