University of Melbourne’s MLU chooses Rimini Street for Salesforce support

LAS VEGAS - Rimini Street, Inc. (NASDAQ:RMNI), known for its enterprise software support and innovation solutions, has been selected by the University of Melbourne’s Mobile Learning Unit (MLU) to provide services for Salesforce, the platform at the heart of MLU’s curriculum and case management systems. The partnership aims to enhance the stability and functionality of MLU’s eLearning platform. The announcement comes as Rimini Street’s stock shows remarkable momentum, with a 102% surge over the past six months. According to InvestingPro analysis, the company appears undervalued based on its Fair Value calculations, with analysts setting price targets up to $7 per share.

The MLU is dedicated to making learning more accessible and engaging, offering comprehensive learning solutions from course creation to learner support. Salesforce is critical to their operations, and according to Pat Violo, program office manager at MLU, a significant challenge was maintaining a deep Salesforce knowledge base to ensure optimal platform performance. Rimini Street was chosen to address this gap and elevate MLU’s eLearning capabilities. With a market capitalization of $320 million and robust gross profit margins of 61%, Rimini Street demonstrates strong operational efficiency. For deeper insights into Rimini Street’s financial health and growth potential, investors can access comprehensive analysis through InvestingPro, which offers exclusive ProTips and detailed metrics for over 1,400 US stocks.

Rimini Street offers a unique combination of managed and professional services for Salesforce, distinguishing itself in the industry. David Rowe, chief product and marketing officer at Rimini Street, emphasized the company’s role in driving innovation and business transformation for their Salesforce clients. Violo also highlighted Rimini Street’s cost-effective support and global expertise as key factors in their decision.

The collaboration with Rimini Street is expected to stabilize MLU’s systems and support the evolution of their course offerings and learning management system solutions. Violo expressed confidence in balancing resources and retaining critical in-house skills with Rimini Street’s assistance, looking forward to future business growth.

Rimini Street, a Russell 2000® Company, is recognized as a leading third-party support provider for Oracle, SAP, and VMware software, offering a broad range of solutions for enterprise application and database software. The company has served numerous organizations, including Fortune Global 100 and Fortune 500 companies, helping them achieve operational efficiencies and substantial cost savings. While currently operating at a moderate debt level, analysts tracked by InvestingPro project the company will return to profitability this year, with expected earnings per share of $0.39 for fiscal year 2025.

This announcement is based on a press release statement and contains forward-looking statements which are subject to risks and uncertainties. These statements are not guarantees of future performance, and actual outcomes could differ materially from those expressed or implied. For more details, please refer to the Risk Factors section in Rimini Street’s recent filings with the Securities and Exchange Commission.

In other recent news, Rimini Street has announced several developments of interest to investors. The company has successfully regained compliance with Nasdaq’s listing rules regarding audit committee requirements after appointing Jay Snyder to its Audit Committee. This move ensures Rimini Street’s continued trading on the Nasdaq Global Market. Additionally, Rimini Street received an upgrade from Alliance Global Partners, which shifted its rating from Neutral to Buy and raised the price target to $6.50. The firm cited an expected recovery of $58 million in cash from Oracle as a factor in its optimistic outlook.

Moreover, Rimini Street has appointed Joe Locandro as the new Chief Information Officer, bringing over 25 years of leadership experience to oversee global IT operations. In ongoing legal matters, the United States District Court for the District of Nevada issued a Modified Permanent Injunction in the company’s litigation with Oracle. This reflects the latest development in the legal proceedings initially initiated by Rimini Street in 2014. The company has indicated that all information regarding this matter is current as of the report’s date, with no obligation to update further. These recent updates provide insight into Rimini Street’s operational and strategic adjustments.

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