• Oracle in June purchased Cerner, a medical-records giant, for about $28 billion.
• The US Department of Veterans Affairs tapped Cerner in 2018 to overhaul its information systems.
• Long-standing issues with the technology and the cost of the project just became Oracle's problem.

In June, Larry Ellison, Oracle's chairman, chief technology officer, and cofounder, joined a growing list of billionaires to make lofty promises about transforming healthcare in the US.

The software giant bought the medical-records company Cerner for about $28 billion to dramatically expand its healthcare portfolio.

Shortly after the deal closed in June, Ellison laid out a vision for how the two companies could build a "revolutionary" health-information system in the cloud, creating a way for providers and public-health officials to access patient data from across organizations.

That's a dreamy departure from today, where a person can show up to an emergency room that has no available record of their blood type.

"We're going to solve this problem," Ellison said at a company event.

At $4.1 trillion — or $12,530 worth of spending per American in 2020 — the US healthcare industry is an attractive target for companies that have transformed other sectors and need new ways to grow. Amazon just made its third-largest acquisition to buy a primary-care startup, and experts have speculated it could be used to build a Prime-like offering for people to manage their health.

But after years of pivots and flops, some of Big Tech's projects in healthcare are looking more modest. Last August, Cerner hired Dr. David Feinberg from Google, which had assembled and disassembled a whole health-related product area in three years.

Oracle isn't new to health. But it's a big undertaking to fix the lack of a shared technology infrastructure for US health records, and Ellison's statements will be tough to live up to.

One issue — how well Oracle can navigate a complicated project with the US Department of Veterans Affairs — will be its most visible test.

Oracle's first major test in healthcare is public and messy

The VA is the nation's largest health system, caring for more than 9 million veterans at more than 1,200 healthcare facilities each year. In 2018 it signed a contract with Cerner to replace its 40-year-old electronic medical records. Cerner had already made about $2.8 billion from the project as of April, according to the US Senate Committee on Veterans' Affairs.

But delays and technical issues have plagued the VA's rollout of Cerner's technology. The VA initially won a $10 billion budget to pay Cerner with, but cost estimates have rocketed far beyond that sum such that Congress passed a bill to increase scrutiny of the program.

Citing a study set to be published by the Institute for Defense Analyses, Sen. Jon Tester said in a congressional hearing on July 20 that the lifetime cost of the deployment, upkeep, and other measures would be $50.8 billion over 28 years. The hearing was Oracle's first about the VA contract since acquiring Cerner.

It's unclear to what extent Oracle will use the VA's $10 billion budget to implement fixes and upgrades and how much of the cost Oracle will eat.

"Right now the new EHR is not getting her done," Tester said in the hearing, referring to the electronic-health-records system. He added, "I really do hope that the acquisition by Oracle is going to be a game-changer."

The VA rollout has involved patient harm, shutdowns, and glitches

Oracle has set its sights on using its cloud assets to Boost the flow of health information. The company has said it plans to create a unified national health-records database "on top of" hospitals' individual data reams. Oracle also wants to make the records themselves more useful with voice-based search and similar tools.

"That is now our primary mission here at Oracle," Ellison said.

Before 2018, the VA was identifying some of the same problems Ellison said he wanted to fix. The Department of Defense provides medical care to troops until they become veterans, at which point the VA takes over. One goal of the VA's upgrade was to deliver providers at both organizations a way to see those patients' records digitally.

But VA officials have said this goal, among others, has suffered as the Cerner rollout has dragged on. The Office of Inspector General overseeing the VA has issued more than 10 reports about several issues and more than 60 recommended fixes, a handful of which are two years old and still haven't been implemented, frustrating lawmakers.

Crashes and slowdowns of Cerner's technology have caused VA staffers to switch to pen and paper. Providers have struggled to learn the new system, leading the VA to implement more training. And a quirk of the Cerner record has sent physicians' medical orders in Spokane, Washington, to an unmanned inbox, leading to delays in care.

One of the reports described a case in which a psychiatrist's order to schedule a follow-up appointment for a patient without a home was lost in the queue. The report said the patient, who was at risk of suicide, called a crisis line four weeks later about a plan to self-harm, then was hospitalized.

The first VA facility launched Cerner's technology in October 2020, and four more have followed, but no further deployments are planned for 2022 while the VA assesses these issues. Dr. Terry Adirim, who's leading the records project for the VA, said in the hearing that there's concern about what would happen in larger, complex medical centers that perform surgeries and have intensive-care units.

Oracle is pouring resources into the VA issues

To face the music on Capitol Hill, Oracle sent Mike Sicilia, an executive vice president who's leading the Cerner acquisition.

"In my latest meetings with many of you and other congressional stakeholders, your frustration with the current situation was clear," Sicilia said.

The executive said that this was Oracle's first priority and that it had already shifted its top talent, including senior engineers, to work on the VA and Defense Department's EHR system. He said Oracle's main strategy to remedy bugs and cut costs is to move the Cerner application to a modern cloud data center within nine months, if it gets permission from the government to do so.

Oracle did not respond to Insider's request to say more about how that would work, but Sicilia said the migration would come at no additional expense to taxpayers.

Asked whether Oracle knew about the magnitude of these challenges, Sicilia, nearly smiling, said there are always things you discover after the fact.

"We certainly had read things that were publicly disclosed," he said. "But there's nothing like owning something to fully understand what's going on."

Oracle Corp. is laying off some employees in the San Francisco Bay Area and at its customer experience software division, according to two reports published today.

The Information today cited a source with knowledge of the matter as saying that Oracle has already begun laying off employees in the Bay Area. Separately, Bloomberg reported that the company is cutting jobs at its customer experience division. The division makes software that helps enterprises with tasks such as delivering personalized promotions to online shoppers.

Limited information is available about the scope of the layoffs. However, a source told Bloomberg that multiple juniper sales employees and a division sales director were among those let go at the company’s customer experience software business.

The timing of the layoffs aligns with a report published by The Information in July. At the time, the publication cited a source as saying that Oracle may move to cut jobs in August. It’s believed that the company could lay off thousands of employees in the coming months as part of an effort to reduce its costs by up to $1 billion.

The move is expected to affect Oracle workers in the U.S., Canada, India and Europe. It was also reported in July that business units focused on marketing Oracle’s customer service and e-commerce software products could be especially affected.

Oracle had 143,000 employees as of March 31, according to Reuters.

Oracle is the latest in a series of tech companies to have laid off employees since the start of the year. Dozens of startups, including some in the enterprise software segment, have announced plans to reduce their workforces in latest months. Microsoft Corp., Google LLC and Apple Inc., in turn, are scaling back their recruiting efforts.

Microsoft also made a “small number of role eliminations” last  month. The layoffs reportedly affected less than 1% of the company’s 180,000-person workforce  

Although Oracle is reducing spending in some areas, the company continues to experience growth across multiple key business units. Oracle’s cloud infrastructure division, a core element of its long-term growth plans, logged a 36% year-over-year sales increase last quarter. Furthermore, the revenue that the company generated from its managed enterprise resource planning platforms jumped as well. 

Thanks to the momentum of its cloud business, Oracle managed to surpass revenue and profit expectations last quarter. The company is building additional data centers to support the cloud business’ growth. Oracle’s growth strategy also prioritizes the healthcare sector, where the company significantly expanded its presence last year by acquiring healthcare technology provider Cerner Corp. in a deal valued at about $28.3 billion.

Photo: Oracle

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 Manukau Institute of Technology Limited (MIT) has switched to Rimini Street for support of its Oracle applications . MIT’s switch to Rimini Street enables MIT to continue using its current, stable and valuable Oracle software for five, ten, fifteen or more years into the future without any required upgrades – while receiving more responsive and robust support.

“Our goal is to ensure our clients’ support needs are met, whatever they may be. Many organizations are pushed into costly, unnecessary and disruptive upgrades by enterprise software companies, because they don’t know about Rimini Street’s proven support programs that do not require upgrades or migrations,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “MIT proves that you can avoid both upgrades and disruptions by turning to Rimini Street support and gaining years of application and technology roadmap flexibility.”

Support Needed to Maintain IT Roadmap Flexibility

MIT hosts 11,000 students on five campuses and provides technical, vocational and professional training education on subjects including hairdressing, automotive, engineering, and digital technologies. The nursing school provides a unique opportunity for Māori and Pacific students to study cultural health care practices and learnings to best support their communities.

MIT runs several Oracle applications critical to the Institute, including finance, student management and data warehousing. However, the vendors providing MIT’s student management and finance services decided to move away from Oracle support, as each application had been earmarked by the vendor with end-of-life dates where full support would cease in 2023. The institution would have faced costly upgrades to the latest versions in order to remain fully supported by the software vendor.

“We were in a bind. We knew the software vendor’s support for each Oracle application would cease next year, but we wanted to continue using our current applications,” said Gerald Masters, Head of Technology, MIT. “Our current Oracle version was stable, and there was no reason for us to move off it other than Oracle saying ‘we had to’.”

The institute needed to find a way to enable it to continue to use its current software and obtain mission-critical support, while also providing it with the sufficient time needed to identify and implement its next-generation of finance and student management systems.

“Rimini Street stepped up with a unique value proposition and service solution. They could keep us on our current version, which meant we could avoid upgrading to a new Oracle version, at great expense, that we didn’t want or need,” said Masters. “Rimini Street will provide support for our existing system while giving us the flexibility to decide our next steps in our IT roadmap without pressure. This was a key reason why we made the shift as it really helps us out of a tough situation with a great solution.”

Award-Winning Comprehensive Support

Each Rimini Street client benefits from the Company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in enterprise software and backed by a team of functional and technical engineers. Furthermore, Rimini Street ensured a well-controlled transition with upfront information, a dedicated project manager, and continual updates on progress.

“Rimini Street support allowed us to get on with business as usual,” said Masters. “We’re undergoing an institution-wide transition and working to a deadline. Waiting for a patch or an update that takes systems offline for days at a time would have really hindered our other internal efforts, so having Rimini Street support there ensures our mission-critical systems are online and working smoothly, so we’re pleased to know Rimini Street has us covered.” 

BELLEVUE, Wash., Aug. 3, 2022 /PRNewswire/ -- Accelalpha announced today that it has completed its strategic merger with Frontera Consulting. The merger expands the reach of both firms' complementary Oracle Cloud consulting offerings, while broadening their solution delivery capability and industry expertise to provide more extensive solutions to our customers.

Both companies enjoy an impressive reputation for successfully completing some of the most complicated Oracle Cloud application deployments. Together, Accelalpha and Frontera will deliver integrated multi-pillar solutions including Oracle ERP, EPM, PPM, HCM, CX, SCM, WMS, OTM, and GTM to implement Oracle's full range of cloud applications for our customers. This strategic merger brings together a significant customer base with over 400 clients and more than 500 Oracle Cloud implementations.

Frontera brings deep industry-focused offerings in Financial Services, Professional Services, Public Sector, Telecommunications, and Media & Entertainment, as well as decades of experience and a great reputation for client-focus. Frontera was one of the early adopters of Oracle Cloud applications, implementing the first ever Fusion Financials client in North America, and more than 200 successful Oracle Cloud projects since 2014. Their people are certified for Oracle ERP, EPM, PPM, HCM, and SCM, as well as Oracle Integration Cloud. Frontera has offices in New York and London, expanding the geographic reach of the combined company.

Nat Ganesh, Accelalpha CEO, said, "Accelalpha's merger with Frontera bolsters our market leadership as an organization that can implement, integrate, and manage all of the Oracle Cloud applications end-to-end to deliver comprehensive digital transformation solutions for our clients while expanding our global reach."

Kevin Beyer, Frontera Consulting Managing Partner, will continue to lead the Frontera operating unit within the Accelalpha family. Beyer said, "The combined organization of Frontera and Accelalpha creates a leading global consulting service provider with the ability to deliver a broader set of Oracle Cloud solutions and a depth of targeted industry knowledge. The two companies are a solid fit, geographically, technically, and culturally."

Story continues

Together, the combined company will enjoy unrivaled depth and breadth of capability to deliver high-value, industry-specific integrated solutions to its clients worldwide.

About Accelalpha:

Accelalpha is a leader in solving critical business challenges through a unique combination of industry insight, technology depth, and a world-class team with an unmatched level of experience and domain expertise. Accelalpha leverages its expertise in end-to-end enterprise solution implementations to help companies build integrated logistic capabilities, optimize sales processes, modernize the supply chain, and realize benefits of the cloud. Our rigorous, result-oriented approach to developing solutions allows us to deliver tangible results in a shorter time frame. Accelalpha is recognized by Fortune as a best small and medium workplace and certified as a great place to work. For more information on Accelalpha, please visit www.accelalpha.com.

About Frontera:

Frontera Consulting is a leading provider of business and technology consulting services to global organizations. Collaborating closely with our clients, we create transformational solutions to meet business needs and drive performance. Our mission is to create long-lasting value for our clients through the innovative use of technology and process expertise, earning the role of trusted advisor. Frontera is headquartered in New York, with operations in London and Hong Kong, and a development center in India.

View original content to download multimedia:https://www.prnewswire.com/news-releases/accelalpha-and-frontera-consulting-merge-forces-to-create-powerful-global-oracle-cloud-applications-consulting-company-301597178.html

SOURCE Accelalpha

Leading New Zealand vocational educator avoids forced upgrades to stay fully supported while gaining the flexibility to develop its future IT roadmap

LAS VEGAS, July 20, 2022--(BUSINESS WIRE)--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 Manukau Institute of Technology Limited (MIT) has switched to Rimini Street for support of its Oracle applications . MIT’s switch to Rimini Street enables MIT to continue using its current, stable and valuable Oracle software for five, ten, fifteen or more years into the future without any required upgrades – while receiving more responsive and robust support.

"Our goal is to ensure our clients’ support needs are met, whatever they may be. Many organizations are pushed into costly, unnecessary and disruptive upgrades by enterprise software companies, because they don’t know about Rimini Street’s proven support programs that do not require upgrades or migrations," said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. "MIT proves that you can avoid both upgrades and disruptions by turning to Rimini Street support and gaining years of application and technology roadmap flexibility."

Support Needed to Maintain IT Roadmap Flexibility

MIT hosts 11,000 students on five campuses and provides technical, vocational and professional training education on subjects including hairdressing, automotive, engineering, and digital technologies. The nursing school provides a unique opportunity for Māori and Pacific students to study cultural health care practices and learnings to best support their communities.

MIT runs several Oracle applications critical to the Institute, including finance, student management and data warehousing. However, the vendors providing MIT’s student management and finance services decided to move away from Oracle support, as each application had been earmarked by the vendor with end-of-life dates where full support would cease in 2023. The institution would have faced costly upgrades to the latest versions in order to remain fully supported by the software vendor.

Story continues

"We were in a bind. We knew the software vendor’s support for each Oracle application would cease next year, but we wanted to continue using our current applications," said Gerald Masters, Head of Technology, MIT. "Our current Oracle version was stable, and there was no reason for us to move off it other than Oracle saying ‘we had to’."

The institute needed to find a way to enable it to continue to use its current software and obtain mission-critical support, while also providing it with the sufficient time needed to identify and implement its next-generation of finance and student management systems.

"Rimini Street stepped up with a unique value proposition and service solution. They could keep us on our current version, which meant we could avoid upgrading to a new Oracle version, at great expense, that we didn’t want or need," said Masters. "Rimini Street will provide support for our existing system while giving us the flexibility to decide our next steps in our IT roadmap without pressure. This was a key reason why we made the shift as it really helps us out of a tough situation with a great solution."

Award-Winning Comprehensive Support

Each Rimini Street client benefits from the Company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in enterprise software and backed by a team of functional and technical engineers. Furthermore, Rimini Street ensured a well-controlled transition with upfront information, a dedicated project manager, and continual updates on progress.

"Rimini Street support allowed us to get on with business as usual," said Masters. "We’re undergoing an institution-wide transition and working to a deadline. Waiting for a patch or an update that takes systems offline for days at a time would have really hindered our other internal efforts, so having Rimini Street support there ensures our mission-critical systems are online and working smoothly, so we’re pleased to know Rimini Street has us covered."

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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, nearly 4,700 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 application enterprise software products and services 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 real 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 real results may differ materially. These risks and uncertainties include, but are not limited to, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of 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 discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 any new 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, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; 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 reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; 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 and data protection regulations; and those discussed under the headings "Risk Factors" and "Cautionary Note About Forward-Looking Statements" in Rimini Street’s Quarterly Report on Form 10-Q filed on May 4, 2022, 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.

© 2022 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/20220720005671/en/

Contacts

Meredith Payette
Rimini Street, Inc.
+1 (312) 515-4756
pr@riministreet.com

Leading New Zealand vocational educator avoids forced upgrades to stay fully supported while gaining the flexibility to develop its future IT roadmap

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 Manukau Institute of Technology Limited (MIT) has switched to Rimini Street for support of its Oracle applications . MIT’s switch to Rimini Street enables MIT to continue using its current, stable and valuable Oracle software for five, ten, fifteen or more years into the future without any required upgrades – while receiving more responsive and robust support.

“Our goal is to ensure our clients’ support needs are met, whatever they may be. Many organizations are pushed into costly, unnecessary and disruptive upgrades by enterprise software companies, because they don’t know about Rimini Street’s proven support programs that do not require upgrades or migrations,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “MIT proves that you can avoid both upgrades and disruptions by turning to Rimini Street support and gaining years of application and technology roadmap flexibility.”

Support Needed to Maintain IT Roadmap Flexibility

MIT hosts 11,000 students on five campuses and provides technical, vocational and professional training education on subjects including hairdressing, automotive, engineering, and digital technologies. The nursing school provides a unique opportunity for Maori and Pacific students to study cultural health care practices and learnings to best support their communities.

MIT runs several Oracle applications critical to the Institute, including finance, student management and data warehousing. However, the vendors providing MIT’s student management and finance services decided to move away from Oracle support, as each application had been earmarked by the vendor with end-of-life dates where full support would cease in 2023. The institution would have faced costly upgrades to the latest versions in order to remain fully supported by the software vendor.

“We were in a bind. We knew the software vendor’s support for each Oracle application would cease next year, but we wanted to continue using our current applications,” said Gerald Masters, Head of Technology, MIT. “Our current Oracle version was stable, and there was no reason for us to move off it other than Oracle saying ‘we had to’.”

The institute needed to find a way to enable it to continue to use its current software and obtain mission-critical support, while also providing it with the sufficient time needed to identify and implement its next-generation of finance and student management systems.

“Rimini Street stepped up with a unique value proposition and service solution. They could keep us on our current version, which meant we could avoid upgrading to a new Oracle version, at great expense, that we didn’t want or need,” said Masters. “Rimini Street will provide support for our existing system while giving us the flexibility to decide our next steps in our IT roadmap without pressure. This was a key reason why we made the shift as it really helps us out of a tough situation with a great solution.”

Award-Winning Comprehensive Support

Each Rimini Street client benefits from the Company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in enterprise software and backed by a team of functional and technical engineers. Furthermore, Rimini Street ensured a well-controlled transition with upfront information, a dedicated project manager, and continual updates on progress.

“Rimini Street support allowed us to get on with business as usual,” said Masters. “We’re undergoing an institution-wide transition and working to a deadline. Waiting for a patch or an update that takes systems offline for days at a time would have really hindered our other internal efforts, so having Rimini Street support there ensures our mission-critical systems are online and working smoothly, so we’re pleased to know Rimini Street has us covered.”

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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, nearly 4,700 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 application enterprise software products and services 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 real 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 real results may differ materially. These risks and uncertainties include, but are not limited to, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of 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 discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 any new 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, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; 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 reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; 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 and data protection regulations; and those discussed under the headings “Risk Factors” and “Cautionary Note About Forward-Looking Statements” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 4, 2022, 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.

© 2022 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/20220720005671/en/

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 Manukau Institute of Technology Limited (MIT) has switched to Rimini Street for support of its Oracle applications. MIT’s switch to Rimini Street enables MIT to continue using its current, stable and valuable Oracle software for five, ten, fifteen or more years into the future without any required upgrades – while receiving more responsive and robust support.

“Our goal is to ensure our clients’ support needs are met, whatever they may be. Many organizations are pushed into costly, unnecessary and disruptive upgrades by enterprise software companies, because they don’t know about Rimini Street’s proven support programs that do not require upgrades or migrations,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “MIT proves that you can avoid both upgrades and disruptions by turning to Rimini Street support and gaining years of application and technology roadmap flexibility.”

Support Needed to Maintain IT Roadmap Flexibility

MIT hosts 11,000 students on five campuses and provides technical, vocational and professional training education on subjects including hairdressing, automotive, engineering, and digital technologies. The nursing school provides a unique opportunity for Māori and Pacific students to study cultural health care practices and learnings to best support their communities.

MIT runs several Oracle applications critical to the Institute, including finance, student management and data warehousing. However, the vendors providing MIT’s student management and finance services decided to move away from Oracle support, as each application had been earmarked by the vendor with end-of-life dates where full support would cease in 2023. The institution would have faced costly upgrades to the latest versions in order to remain fully supported by the software vendor.

“We were in a bind. We knew the software vendor’s support for each Oracle application would cease next year, but we wanted to continue using our current applications,” said Gerald Masters, Head of Technology, MIT. “Our current Oracle version was stable, and there was no reason for us to move off it other than Oracle saying ‘we had to’.”

The institute needed to find a way to enable it to continue to use its current software and obtain mission-critical support, while also providing it with the sufficient time needed to identify and implement its next-generation of finance and student management systems.

“Rimini Street stepped up with a unique value proposition and service solution. They could keep us on our current version, which meant we could avoid upgrading to a new Oracle version, at great expense, that we didn’t want or need,” said Masters. “Rimini Street will provide support for our existing system while giving us the flexibility to decide our next steps in our IT roadmap without pressure. This was a key reason why we made the shift as it really helps us out of a tough situation with a great solution.”

Award-Winning Comprehensive Support

Each Rimini Street client benefits from the Company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in enterprise software and backed by a team of functional and technical engineers. Furthermore, Rimini Street ensured a well-controlled transition with upfront information, a dedicated project manager, and continual updates on progress.

“Rimini Street support allowed us to get on with business as usual,” said Masters. “We’re undergoing an institution-wide transition and working to a deadline. Waiting for a patch or an update that takes systems offline for days at a time would have really hindered our other internal efforts, so having Rimini Street support there ensures our mission-critical systems are online and working smoothly, so we’re pleased to know Rimini Street has us covered.”

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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, nearly 4,700 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 application enterprise software products and services 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 real 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 real results may differ materially. These risks and uncertainties include, but are not limited to, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of 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 discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 any new 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, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; 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 reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; 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 and data protection regulations; and those discussed under the headings “Risk Factors” and “Cautionary Note About Forward-Looking Statements” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 4, 2022, 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.

© 2022 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/20220720005671/en/

Sydney, Australia & Auckland, New Zealand – July 21, 2022 – 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 Manukau Institute of Technology Limited (MIT) has switched to Rimini Street for support of its Oracle applications. MIT’s switch to Rimini Street enables MIT to continue using its current, stable and valuable Oracle software for five, ten, fifteen or more years into the future without any required upgrades – while receiving more responsive and robust support.

“Our goal is to ensure our clients’ support needs are met, whatever they may be. Many organizations are pushed into costly, unnecessary and disruptive upgrades by enterprise software companies, because they don’t know about Rimini Street’s proven alternative support programs that do not require upgrades or migrations,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “MIT proves that you can avoid both upgrades and disruptions by turning to Rimini Street support and gaining years of application and technology roadmap flexibility .”

Support Needed to Maintain IT Roadmap Flexibility

MIT hosts 11,000 students on five campuses and provides technical, vocational and professional training education on subjects including hairdressing, automotive, engineering, and digital technologies. The nursing school provides a unique opportunity for Māori and Pacific students to study cultural health care practices and learnings to best support their communities.

MIT runs several Oracle applications critical to the Institute, including finance, student management and data warehousing. However, the vendors providing MIT’s student management and finance services decided to move away from Oracle support, as each application had been earmarked by the vendor with end-of-life dates where full support would cease in 2023. The institution would have faced costly upgrades to the latest versions in order to remain fully supported by the software vendor.

“We were in a bind. We knew the software vendor’s support for each Oracle application would cease next year, but we wanted to continue using our current applications,” said Gerald Masters, Head of Technology, MIT. “Our current Oracle version was stable, and there was no reason for us to move off it other than Oracle saying ‘we had to’.”

The institute needed to find a way to enable it to continue to use its current software and obtain mission-critical support, while also providing it with the sufficient time needed to identify and implement its next-generation of finance and student management systems.

“Rimini Street stepped up with a unique value proposition and service solution. They could keep us on our current version, which meant we could avoid upgrading to a new Oracle version, at great expense, that we didn’t want or need,” said Masters. “Rimini Street will provide support for our existing system while giving us the flexibility to decide our next steps in our IT roadmap without pressure. This was a key reason why we made the shift as it really helps us out of a tough situation with a great solution.”

Award-Winning Comprehensive Support

Each Rimini Street client benefits from the Company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in enterprise software and backed by a team of functional and technical engineers. Furthermore, Rimini Street ensured a well-controlled transition with upfront information, a dedicated project manager, and continual updates on progress.

“Rimini Street support allowed us to get on with business as usual,” said Masters. “We’re undergoing an institution-wide transition and working to a deadline. Waiting for a patch or an update that takes systems offline for days at a time would have really hindered our other internal efforts, so having Rimini Street support there ensures our mission-critical systems are online and working smoothly, so we’re pleased to know Rimini Street has us covered.”

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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, nearly 4,700 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 application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)

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