Rimini Street revenues up as customer base swells to 900

Third party software support provider Rimini Street has seen strong revenue growth as its customer base pushes towards the 900 mark.

The company saw third quarter revenues increase by 42 percent year on year to $22.4 million (£13.95m), with deferred revenues reaching $58.1 million (£36.1m). It now has a total of 890 signed support accounts, up from 574 during the last quarter.

Rimini Street provides independent maintenance and support services for a range of SAP and Oracle software, claiming to save customers up to 90 percent on application support costs. It recently claimed to have tripled revenues for Oracle E-Business Suite services over the last 12 months.

The company has also diversified its business in recent months, and will now offer integration services for customers who want to adopt SaaS (software-as-a-service) offerings from the likes of Salesforce.com and Workday.

However, despite the growing business, Rimini Street has had to face a court case with Oracle, which claims that it stole intellectual property while supplying its support services. CEO Ravin recently downplayed the impact of the ruling on the business.

Copyright © 2014 IDG Communications, Inc.

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