Global auto manufacturer cites positive business impact; reinvests support cost savings in innovative autonomous driving and vehicle connectivity technology
LAS VEGAS.-Thursday 10 September 2020 [ AETOS Wire ]
(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 Hyundai-Kia Motors expanded its support
agreement with Rimini Street for its Oracle Database software to include
all of its affiliates and offices overseas. Hyundai-Kia Motors, a
leading global auto manufacturer, switched from Oracle to Rimini Street
Support in 2019 and increased the agreement based on the company’s high
satisfaction with Rimini Street’s support services and the positive
impact it has made to its business. With the time, costs and resources
saved by switching to Rimini Street Support, Hyundai-Kia Motors was able
to reinvest its significant support and maintenance savings into
funding innovation projects – including autonomous driving and vehicle
connectivity and electrization – to drive growth in a fiercely
competitive automotive market.
Company Expands Support Services Globally To Help Maximize Value and ROI
Hyundai-Kia
Motors initially selected Rimini Street for support of its Oracle
Database as the maintenance and support spend consumed a significant sum
of their entire IT operations budget. The company then expanded support
beyond Oracle Database software after being highly satisfied with
Rimini Street’s premium quality support services. Now Hyundai-Kia Motors
is expanding the use of Rimini Street Support globally to 20 of its
group affiliates and offices – located in the United States, South
America, Europe and the Middle East – to reduce maintenance costs
further and receive better quality support in these locations as well.
“We
decided to expand Rimini Street’s ultra-responsive support to our
affiliates and offices globally to continue to reduce costs and free up
our IT personnel in those locations to focus on more strategic
initiatives within the business,” said Hee-gon Kim, head of the Cloud
Technology Team, Hyundai-Kia Motors. “We can use the resources saved to
develop advanced technical innovations such as autonomous driving and
electric vehicle development, which fuels our growth in the competitive
automobile manufacturing market.”
Rimini Street’s Long History of Successful Database Support Experience
Hyundai-Kia
Motors can continue to leverage its mission-critical Oracle Database
software for a minimum of 15 years from the time that they switched to
Rimini Street Support without costly and unnecessary upgrades. Rimini
Street supports Oracle Database clients around the world with
implementations ranging from a single server to large, complex
environments with thousands of global database instances. All Rimini
Street clients are assigned a Primary Support Engineer (PSE), backed by a
team of functional and technical experts with an average of 15 years’
experience in the client’s specific enterprise software system.
“Our
team now receives more responsive support by experts in our specific
Oracle Database deployment. We are delighted with the quality of
technical support from our team of Primary Support Engineers compared to
the software vendor,” continued Kim.
“We are pleased to continue
expanding our partnership with Hyundai-Kia Motors to include support
for their Oracle landscape across all of their affiliates and offices
overseas. To date, Rimini Street has signed over 900 Oracle Database
clients around the world that benefit from significant savings and the
Company’s extensive database support experience, expertise that
originally attracted Hyundai-Kia Motors,” said Hyung-wook “Kevin” Kim,
regional general manager, Korea, Rimini Street. “Hyundai-Kia Motors is
reinvesting its savings from adopting third-party support in innovative
technologies and projects that set them apart from their competitors and
drive continuous growth. I look forward to continuing our partnership
with Hyundai-Kia Motors.”
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. Over 2,100 Fortune 500, Fortune Global 100,
midmarket, public sector and other organizations from a broad range of
industries rely 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.
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. All statements pertaining to Rimini Street’s expectations
regarding the expected use of proceeds from the offering described in
this press release constitute forward-looking statements. 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, the
duration of and economic, operational and financial impacts on Rimini
Street’s business of the COVID-19 pandemic, as well as the actions taken
by governmental authorities, clients or others in response to the
COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s
business or that of its current and prospective clients, 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; Rimini Street’s need and
ability to raise additional equity or debt financing on favorable terms
and Rimini Street’s ability to generate cash flows from operations to
help fund increased investment in Rimini Street’s growth initiatives;
the sufficiency of Rimini Street’s cash and cash equivalents to meet its
liquidity requirements; the terms and impact of Rimini Street’s
outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and
regulations; competitive product and pricing activity; difficulties of
managing growth profitably; the customer adoption of Rimini Street’s
recently introduced products and services, including its Application
Management Services (AMS), Rimini Street Advanced Database Security, and
services for Salesforce Sales Cloud and Service Cloud products, in
addition to other products and services Rimini Street expects 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 risks discussed under the
heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q
filed on August 5, 2020 and in the prospectus supplement dated August
14, 2020 relating to the underwritten public offering of Rimini Street’s
common stock that closed on August 18, 2020 and as updated from time to
time by 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.
© 2020 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/20200908005147/en/
Contacts
Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com
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