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LAS VEGAS - Rimini Street, Inc. (NASDAQ:RMNI), a $379 million market cap technology services provider with annual revenue of $427 million and strong gross margins of 61%, has been approved as a supplier on the United States General Services Administration’s Multiple Award Schedule under contract 47QTCA25D00DT, the company announced Thursday.
The approval allows federal, state, local and tribal government agencies to directly procure Rimini Street’s support and security services for Oracle, SAP and VMware software at up to 50% less than vendor maintenance fees. Government entities can now access these services without lengthy procurement processes.
Rimini Street offers support for current software releases for up to 15 additional years from signing, with no required upgrades or migrations. The company’s services include support for application customizations at no additional charge, 10-minute engineer response times, and four-hour resolution times for critical cases.
"Government agencies are on a mission to modernize IT, maximize labor productivity and reduce costs," said Seth Ravin, CEO of Rimini Street. "Rimini Street has a strong track record of partnering with government agencies all over the world and across the U.S., including national security and military clients." According to InvestingPro analysis, the company’s stock has shown remarkable performance with a 139% return over the past year, and analysts expect positive net income growth this year.
The company reports it has helped clients save nearly $10 billion to date, which they redirected to cost savings and new technology investments. InvestingPro data indicates the stock is currently trading below its Fair Value, suggesting potential upside opportunity. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Rimini Street employs more than 1,000 engineers globally who work as extensions of clients’ IT teams to maintain system uptime and performance. The company’s security solutions allow customers to extend the lifespan of their enterprise software without vendor-mandated upgrades or migrations.
The information in this article is based on a company press release statement.
In other recent news, Rimini Street Inc. reported its second-quarter 2025 financial results, significantly surpassing earnings expectations. The company’s earnings per share were reported at $0.32, well above the forecasted $0.08. Revenue also exceeded projections, reaching $104.1 million compared to the expected $103.08 million. In addition to the strong earnings performance, Rimini Street secured approval as a supplier on the United States General Services Administration’s Multiple Award Schedule. This contract allows various government agencies to access Rimini Street’s services at a discount. Furthermore, Suntory expanded its partnership with Rimini Street to develop a new mobile application for its wellness division. Rimini Consult will build the app, "Comado," using Suntory’s existing Oracle systems. These developments highlight recent activities involving Rimini Street.
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