LAS VEGAS--(BUSINESS WIRE)--Jun 22, 2023--
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today advised licensees running pre-19c releases of Oracle Database who no longer receive Oracle Premier Support, that they can continue using their current Oracle Database release for up to an additional 15 years without required upgrades by switching to premium Rimini Support™. Clients can also save 50% on support fees compared to Oracle Support and leverage Rimini Protect™ security solutions to significantly enhance their security posture around their entire Oracle Database landscape.
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Increased numbers of Oracle Database licensees are switching to Rimini Support™ and Rimini Protect™. (Graphic: Business Wire)
Rimini Street Extends Oracle Database Release Lifespan at Half the Support Cost
Oracle has downgraded all Oracle Database releases earlier than 19c to Sustaining Support status, which offers a much more limited scope of support that even Oracle senior executives admit is not sufficient for production operation – but demand clients pay the same retail price as for full Oracle Premier Support.
Oracle’s apparent strategy is to try and pressure Oracle Database licensees to upgrade to the latest Oracle Database releases that qualify for Oracle Premier Support – a proposal which would likely require licensees to incur significant cost and allocate many IT resources, may disrupt the business, and - for many organizations - offer no clear ROI.
At the present time, Oracle only provides Premier Support for the two latest Oracle Database releases - 19c and 21c. However, Oracle Premier Support for both 19c and 21c releases is currently scheduled to end in less than a year, April 2024.
Oracle Database Licensees Get Better ROI with Rimini Street
Rimini Street continues to add an impressive list of globally recognized Oracle Database clients, many of whom are the dominant leaders in their respective industries and operating some of the largest Oracle Database landscapes in the world.
With greater demand by board members, shareholders and investors for companies to achieve both growth and profitability, IT and finance leaders are taking a harder look at the ROI of their IT investments and future IT roadmaps. Support for Oracle Database, a platform that is largely considered both mission-critical to the business and a stable application, is an area of opportunity for significant cost savings, better service and innovative, additional security.
Rimini Street clients who rely on their Oracle Databases to store their critical data and run their business are enjoying the service benefits of Rimini Support and Rimini Protect for Oracle Database, including deep Oracle Database engineering expertise, guaranteed 10-minute response time for priority cases 24/7/365, patchless and nearly instant security protection against evolving security threats and other service benefits not included in Oracle’s standard support packages.
Rimini Street Provides Better Value and Expert Service
As a company that specializes in providing unmatched support value and quality for Oracle and SAP software since 2005, Rimini Support allows companies to extract maximum value from their existing Oracle Database version for at least 15 additional years without any required upgrades, enjoy a hyper-responsive service experience with deep Oracle Database engineering capability, achieve immediate savings of 50% compared to Oracle Annual Maintenance fees and free up capital for innovation and strategic initiatives.
“Clients who choose Rimini Support for Oracle Database experience a true partnership and achieve many more of their strategic goals,” said Frank Reneke, group vice president and global pre-sales at Rimini Street. “With dedicated Primary Support Engineers (PSEs) bringing an average of 20 years of experience assigned to each of our clients, backed up by a global team of hundreds of highly knowledgeable and skilled database engineers, our Oracle Database support is not only premium in responsiveness and quality, but also in the breadth of services that we can provide to optimize, evolve and transform our clients’ IT landscape. We enable our clients to re-focus their IT talents’ time and budget on projects that will help them reduce cost, increase profits, improve competitiveness and grow their business.”
Rimini Protect for Oracle Database Provides Unique, Innovative Protection
In a March 2023 Spotlight Research Report by International Data Corporation (IDC), analysts shared their concerns about database security vulnerabilities created by software updates incompatible with custom code in applications running on top of the database, citing, “Often custom code will create additional challenges to the database update process because the custom code is not updated when any maintenance update from the database manufacturer is implemented. One possible scenario is that when a database owner updates their database with the latest update provided by the database manufacturer, the updated code from the manufacturer will effectively break the custom code that worked with the earlier version of the database software. This break may lead to both an operational issue that needs to be resolved and an information security issue that might go undetected. It's possible that the information security issue will not be identified until penetration testing is conducted.”
Rimini Support, in powerful combination with Rimini Protect, provides not only customized fixes and configuration support by highly experienced engineers, but provides fast-response enterprise database security that does not require costly regression testing with its Rimini Street Advanced Database Security (ADS) offering. ADS also covers a next-generation database security solution, protecting all Oracle Database (and other database product) releases with efficient virtual patching that eliminates the need to upgrade databases only for security.
Energy distributor, Suburban Propane, which services the residential, commercial, industrial and agricultural market through 700 locations, found a trusted partner in Rimini Street when it turned to Rimini Street ADS for its Oracle Database platform and had a new security software up and running in a test environment in less than a day. Ron Traub, senior operations manager at Suburban Propane said, “Rimini Street ADS gives us peace of mind. As soon as a virtual patch is released, we can apply it quickly. No need to schedule a maintenance window to bring a system down – and we don’t have to change code and perform regression testing.”
“Security and system uptime are on top of the priority list for every CIO, CTO, CISO and IT leader. Impact to either one can equate to a loss of not only revenue, but long-lasting brand damage and possible legal challenges, especially when dealing with breaches of highly sensitive information,” said Gabe Dimeglio, group vice president and general manager of Rimini Protect. “Our proven security support, products and services work to protect databases in a matter of seconds, versus the lengthy time it may take for vendors to release a security patch for newly-discovered vulnerabilities – if they release a patch at all. Further applying vendor code patches, especially for those with customized software running on top of the database, could create a greater risk to clients.”
Rimini Street Enables Fierce Competition and Business Innovation
Since switching to Rimini Street to take on support for Oracle Database, automaker giant, Hyundai Motor Group, has leveraged the “huge cost reductions achieved” to “invest in the technologies and expertise that will support future ground-breaking innovations.” Delighted with the quality of services received from Rimini Street, Hyundai elected to “further expand the scope of the contract to include added coverage for even more group affiliates and overseas offices,” said the Head of Department, Cloud Technology Team at Hyundai.
Reneke shared, “For a recent client who had over 5,000 database instances, over 90% were in Oracle Sustaining Support and the upgrade costs for that client would have been $17M. By moving to Rimini Street, they were able to avoid this cost and extend the life of their Oracle Database landscape with at least an additional 15 years of Rimini Support availability – and they also saved 50% on their annual maintenance fees compared to Oracle. We are freeing up IT budget and adding tremendous value by creating new opportunities for capital investment – a true win/win for our client.”
“Rimini Street is proud to add more and more organizations to our growing list of global clients relying on Rimini Support and Rimini Protect for Oracle Database to reduce total cost of ownership of the software, extend the life of their current release investment, enjoy better and more responsive service, achieve smoother operating outcomes and have the ability to re-focus the savings and their IT teams on strategic initiatives that help improve their competitive position and grow,” said Seth Ravin, president and CEO of Rimini Street.
Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and Rimini ONE™ end-to-end outsourcing solutions for SAP, Oracle and Salesforce applications to support competitive advantage, profitability and growth.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,100 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit http://www.riministreet.com, and connect with Rimini Street on Twitter, 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, adverse developments in and costs associated with defending pending litigation or any new litigation; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability and manage our cost of revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle, and risks relating to retention rates; the loss of one or more members of our management team; our ability to attract and retain qualified employees and key personnel; challenges of managing growth profitably; 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; the impact of environmental, social and governance (ESG) matters; actions in response to any lingering impacts of the COVID-19 pandemic and its economic, operational and financial impacts on our business; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 3, 2023, 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.
© 2023 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230622244499/en/
CONTACT: Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
KEYWORD: UNITED STATES NORTH AMERICA NEVADA
INDUSTRY KEYWORD: DATA MANAGEMENT SECURITY APPS/APPLICATIONS TECHNOLOGY SOFTWARE NETWORKS HARDWARE
SOURCE: Rimini Street, Inc.
Copyright Business Wire 2023.
PUB: 06/22/2023 01:15 PM/DISC: 06/22/2023 01:14 PM
http://www.businesswire.com/news/home/20230622244499/en
