Rimini Street expands application management services to Oracle
Rimini Street on Thursday announced it's offering Application Management Services (AMS) for Oracle. The services include system administration, operational support, health monitoring and enhancement support, and it offers coverage for Oracle Database, Middleware and a wide range of Oracle applications including E-Business Suite, JD Edwards, PeopleSoft and Siebel.
Rimini has traditionally offered third party support as a replacement for annual support from the software vendor. Now Rimini Street can help enterprises operate and run their Oracle systems. Back in August, Rimini began expanding into higher-level support services with application management services for SAP enterprise software.
As the company noted, the global market for application management services is approximately $82 billion and expected to grow more than 5 percent annually.
Rimini's expanded Oracle services come amid its ongoing legal battle with Oracle. Just a day earlier, as Law360 reports, Rimini asked the Supreme Court to nullify an injunction that the Ninth Circuit Court of Appeals upheld earlier this year, affirming a permanent injunction against Rimini for infringing on Oracle's intellectual property rights.
Separately, Rimini Street on Thursday published its third quarter financial results, reporting a net loss per share of 7 cents on revenue of $69 million, a year-over-year increase of 10 percent.
"In the third quarter, we continued to see improving performance from investments made over the past eighteen months in global sales capacity, productivity and infrastructure," CEO Seth A. Ravin, said in a statement. "We also continued expanding our global capabilities and new product and service offerings, opening operations in Dubai to serve the Gulf region and announcing the global availability of Application Management Services for SAP."
Annualized subscription revenue for the quarter was approximately $274 million. Active Clients as of September 30, 2019 were 2,032, an increase of 17.3 percent year-over-year.
Rimini Street also announced that Thomas Sabol has resigned as CFO, effective November 15. The company is still actively recruiting a new CFO. In the meantime, Stanley Mbugua, previously the company's vice president and corporate controller, was appointed Group VP and Chief Accounting Officer, effective November 5.