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Rimini Street Appoints Software Industry Veteran Sebastian Grady President and COO

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New position announced as the company's first quarter results show high rate of growth.

Rimini Street, Inc., a third-party maintenance and support provider for enterprise software, including Oracle Corp.'s Siebel, PeopleSoft, JD Edwards and E-Business Suite software, and SAP AG software, has announced the appointment of Sebastian Grady, a 25-year veteran of the enterprise software industry, to the newly created position of president and COO. 

As part of the company’s business plan, Seth Ravin, Rimini Street’s president and CEO since the company’s founding in 2005, created the new president and COO position in order to support the company’s expanded leadership needs for the next phase of rapid global growth. The president and COO will be responsible for driving and executing Rimini Street’s global growth and operating plan. 

Grady brings more than two decades of enterprise software sales, service and leadership experience to Rimini Street, with extensive experience in the enterprise software maintenance business. Most recently, Grady spent more than six years as president and COO of two leading enterprise software companies, Saba Software and Altus Corp., where he was responsible for driving rapid revenue growth of 300 percent and 500 percent at each company, respectively. Grady provided global enterprise solutions for dozens of clients including Oracle, SAP, Cisco, GM, IBM and Symantec. 

Prior to Saba and Altus, Grady held several executive positions at PeopleSoft Software, Inc., including vice president of global customer service, vice president of global support, and most recently vice president and general manager of the $600 million dollar Customer Sales division which included global annual support sales and telesales operations. Under Grady’s direction, the Customer Sales division became PeopleSoft’s largest and fastest-growing business unit. 

“Sebastian is a proven leader who has delivered high growth through solid strategy and execution, and he also has considerable experience in selling and delivering enterprise software maintenance and services to organizations around the world,” said Ravin. “Sebastian will drive Rimini Street’s aggressive global growth plan and assure our clients continue enjoying the most innovative, responsive and value-driven enterprise software support services in the industry. With record 2010 results and the largest sales pipelines in the company’s history, Rimini Street is well-positioned to continue achieving its global growth plan in 2011 and beyond.” 

“Rimini Street has developed and delivered innovative, ultra-responsive enterprise software support solutions that have already been selected by more than 400 global, Fortune 500, midmarket and public sector organizations,” said Grady. “Rimini Street is now moving forward with its next phase of global growth that will include new and expanded service offerings. I am delighted to join the company at this exciting time, and I look forward to building on our momentum to deliver strong company growth and continued world-class service to a fast-expanding global client base.”

First Quarter 2011 Results

Meanwhile, Rimini Street reported record first quarter 2011 results during which time it achieved the highest quarterly revenue ever and near 100 percent year-over-year growth. The company announced results for its fiscal first quarter ended March 31, 2011. Highlights of the Company’s first quarter results include the highest quarterly revenue in the company’s history and growth of nearly 100 percent in year-over-year quarterly sales bookings compared to the first quarter of 2010. The company’s fiscal first quarter results also include a record high sales bookings backlog of $238 million dollars and strong client renewal rates. 

Strong Sales Momentum, Client Retention 

The company over-achieved both its new client contract sales target, completing 23 transactions, and its client renewal target in the first quarter. Rimini Street closed new client transactions in each of its Oracle and SAP product lines, and delivered more than $30 million in sales bookings for the quarter. Sales bookings were the most ever for any Q1, at nearly a 100 percent increase on a year-over-year basis, with an average contract term of more than 11 years. First quarter revenue was more than $7.5 million, a new company quarterly revenue record. 

The company has signed more than 400 total clients, including 38 of the Fortune 500 and 11 of the Global 100. The company currently supports client operations in more than 60 countries, with the capability of supporting clients in nearly 200 countries. The company has approximately 180 employees in North America, Europe and the Asia-Pacific regions. 

Other notable Rimini Street achievements in Q1 include: 

  • Resolved over a thousand client support cases and continued to outperform Rimini Street’s guaranteed SLA response time of 30 minutes or less, with an average response time of 3.5 minutes from a senior engineer
  • Delivered thousands of tax, legal and regulatory updates to clients ahead of the software vendor’s planned release date for similar updates
  • Featured at several key investor events, including the 13th Annual Needham Growth Conference in New York, and hosted on equity investor tours in Boston and Chicago by leading investment banks, including Deutsche Bank and UBS
  • Appointed 25-year software industry veteran Sebastian Grady to newly created position of president and COO

Company Reconfirms Guidance for a Strong 2011

"Rimini Street continues to successfully execute to its global business plan as evidenced by our very strong first quarter 2011 results," said Ravin. "We are well-positioned to achieve or exceed our plan for the remainder of 2011 with the largest sales pipeline in the company’s history and a highly experienced senior management team in place. We recognize that our success is a direct result of our clients’ success with Rimini Street services and we maintain our focus on delivering the best support value and most innovative services in the enterprise software industry."

Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save at least 50 percent in annual support fees and save up to 90 percent in total support costs over a decade. Clients can remain on their current software release without any required upgrades or migrations for at least ten years. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com or call within the 888-870-9692 or internationally +1 (702) 839-9671.

Rimini Street, Inc., a third-party maintenance and support provider for enterprise software, including Oracle Corp.'s Siebel, PeopleSoft, JD Edwards and E-Business Suite software, and SAP AG software, has announced the appointment of Sebastian Grady, a 25-year veteran of the enterprise software industry, to the newly created position of president and COO. 

As part of the company’s business plan, Seth Ravin, Rimini Street’s president and CEO since the company’s founding in 2005, created the new president and COO position in order to support the company’s expanded leadership needs for the next phase of rapid global growth. The president and COO will be responsible for driving and executing Rimini Street’s global growth and operating plan. 

Grady brings more than two decades of enterprise software sales, service and leadership experience to Rimini Street, with extensive experience in the enterprise software maintenance business. Most recently, Grady spent more than six years as president and COO of two leading enterprise software companies, Saba Software and Altus Corp., where he was responsible for driving rapid revenue growth of 300 percent and 500 percent at each company, respectively. Grady provided global enterprise solutions for dozens of clients including Oracle, SAP, Cisco, GM, IBM and Symantec. 

Prior to Saba and Altus, Grady held several executive positions at PeopleSoft Software, Inc., including vice president of global customer service, vice president of global support, and most recently vice president and general manager of the $600 million dollar Customer Sales division which included global annual support sales and telesales operations. Under Grady’s direction, the Customer Sales division became PeopleSoft’s largest and fastest-growing business unit. 

“Sebastian is a proven leader who has delivered high growth through solid strategy and execution, and he also has considerable experience in selling and delivering enterprise software maintenance and services to organizations around the world,” said Ravin. “Sebastian will drive Rimini Street’s aggressive global growth plan and assure our clients continue enjoying the most innovative, responsive and value-driven enterprise software support services in the industry. With record 2010 results and the largest sales pipelines in the company’s history, Rimini Street is well-positioned to continue achieving its global growth plan in 2011 and beyond.” 

“Rimini Street has developed and delivered innovative, ultra-responsive enterprise software support solutions that have already been selected by more than 400 global, Fortune 500, midmarket and public sector organizations,” said Grady. “Rimini Street is now moving forward with its next phase of global growth that will include new and expanded service offerings. I am delighted to join the company at this exciting time, and I look forward to building on our momentum to deliver strong company growth and continued world-class service to a fast-expanding global client base.”

First Quarter 2011 Results

Meanwhile, Rimini Street reported record first quarter 2011 results during which time it achieved the highest quarterly revenue ever and near 100 percent year-over-year growth. The company announced results for its fiscal first quarter ended March 31, 2011. Highlights of the Company’s first quarter results include the highest quarterly revenue in the company’s history and growth of nearly 100 percent in year-over-year quarterly sales bookings compared to the first quarter of 2010. The company’s fiscal first quarter results also include a record high sales bookings backlog of $238 million dollars and strong client renewal rates. 

Strong Sales Momentum, Client Retention 

The company over-achieved both its new client contract sales target, completing 23 transactions, and its client renewal target in the first quarter. Rimini Street closed new client transactions in each of its Oracle and SAP product lines, and delivered more than $30 million in sales bookings for the quarter. Sales bookings were the most ever for any Q1, at nearly a 100 percent increase on a year-over-year basis, with an average contract term of more than 11 years. First quarter revenue was more than $7.5 million, a new company quarterly revenue record. 

The company has signed more than 400 total clients, including 38 of the Fortune 500 and 11 of the Global 100. The company currently supports client operations in more than 60 countries, with the capability of supporting clients in nearly 200 countries. The company has approximately 180 employees in North America, Europe and the Asia-Pacific regions. 

Other notable Rimini Street achievements in Q1 include: 

  • Resolved over a thousand client support cases and continued to outperform Rimini Street’s guaranteed SLA response time of 30 minutes or less, with an average response time of 3.5 minutes from a senior engineer
  • Delivered thousands of tax, legal and regulatory updates to clients ahead of the software vendor’s planned release date for similar updates
  • Featured at several key investor events, including the 13th Annual Needham Growth Conference in New York, and hosted on equity investor tours in Boston and Chicago by leading investment banks, including Deutsche Bank and UBS
  • Appointed 25-year software industry veteran Sebastian Grady to newly created position of president and COO

Company Reconfirms Guidance for a Strong 2011

"Rimini Street continues to successfully execute to its global business plan as evidenced by our very strong first quarter 2011 results," said Ravin. "We are well-positioned to achieve or exceed our plan for the remainder of 2011 with the largest sales pipeline in the company’s history and a highly experienced senior management team in place. We recognize that our success is a direct result of our clients’ success with Rimini Street services and we maintain our focus on delivering the best support value and most innovative services in the enterprise software industry."

Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save at least 50 percent in annual support fees and save up to 90 percent in total support costs over a decade. Clients can remain on their current software release without any required upgrades or migrations for at least ten years. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com or call within the 888-870-9692 or internationally +1 (702) 839-9671.

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    SB PowerTech WC GenericMalicious programs can bring entire businesses to their knees—and IBM i shops are not immune. It’s critical to grasp the true impact malware can have on IBM i and the network that connects to it. Attend this webinar to gain a thorough understanding of the relationships between:

    • Viruses, native objects, and the integrated file system (IFS)
    • Power Systems and Windows-based viruses and malware
    • PC-based anti-virus scanning versus native IBM i scanning

    There are a number of ways you can minimize your exposure to viruses. IBM i security expert Sandi Moore explains the facts, including how to ensure you're fully protected and compliant with regulations such as PCI.

     

     

  • Fight Cyber Threats with IBM i Encryption

    SB PowerTech WC GenericCyber attacks often target mission-critical servers, and those attack strategies are constantly changing. To stay on top of these threats, your cybersecurity strategies must evolve, too. In this session, IBM i security expert Robin Tatam provides a quick recap of IBM i security basics and guides you through some advanced cybersecurity techniques that can help you take data protection to the next level. Robin will cover:

    • Reducing the risk posed by special authorities
    • Establishing object-level security
    • Overseeing user actions and data access

     

     

     

  • 10 Practical IBM i Security Tips for Surviving Covid-19 and Working From Home

    SB PowerTech WC GenericNow that many organizations have moved to a work from home model, security concerns have risen.

    During this session Carol Woodbury will discuss the issues that the world is currently seeing such as increased malware attacks and then provide practical actions you can take to both monitor and protect your IBM i during this challenging time.

     

  • How to Transfer IBM i Data to Microsoft Excel

    SB_HelpSystems_WC_Generic3 easy ways to get IBM i data into Excel every time
    There’s an easy, more reliable way to import your IBM i data to Excel? It’s called Sequel. During this webinar, our data access experts demonstrate how you can simplify the process of getting data from multiple sources—including Db2 for i—into Excel. Watch to learn how to:

    • Download your IBM i data to Excel in a single step
    • Deliver data to business users in Excel via email or a scheduled job
    • Access IBM i data directly using the Excel add-in in Sequel

    Make 2020 the year you finally see your data clearly, quickly, and securely. Start by giving business users the ability to access crucial business data from IBM i the way they want it—in Microsoft Excel.

     

     

  • HA Alternatives: MIMIX Is Not Your Only Option on IBM i

    SB_HelpSystems_WC_GenericIn this recorded webinar, our experts introduce you to the new HA transition technology available with our Robot HA software. You’ll learn how to:

    • Transition your rules from MIMIX (if you’re happy with them)
    • Simplify your day-to-day activities around high availability
    • Gain back time in your work week
    • Make your CEO happy about reducing IT costs

    Don’t stick with a legacy high availability solution that makes you uncomfortable when transitioning to something better can be simple, safe, and cost-effective.

     

     

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  • Backup and Recovery on IBM i: Your Strategy for the Unexpected

    SB HelpSystems SC 5413Robot automates the routine tasks of iSeries backup and recovery, saving you time and money and making the process safer and more reliable. Automate your backups with the Robot Backup and Recovery Solution. Key features include:
    - Simplified backup procedures
    - Easy data encryption
    - Save media management
    - Guided restoration
    - Seamless product integration
    Make sure your data survives when catastrophe hits. Try the Robot Backup and Recovery Solution FREE for 30 days.

  • Manage IBM i Messages by Exception with Robot

    SB HelpSystems SC 5413Managing messages on your IBM i can be more than a full-time job if you have to do it manually. How can you be sure you won’t miss important system events?
    Automate your message center with the Robot Message Management Solution. Key features include:
    - Automated message management
    - Tailored notifications and automatic escalation
    - System-wide control of your IBM i partitions
    - Two-way system notifications from your mobile device
    - Seamless product integration
    Try the Robot Message Management Solution FREE for 30 days.

  • Easiest Way to Save Money? Stop Printing IBM i Reports

    SB HelpSystems SC 5413Robot automates report bursting, distribution, bundling, and archiving, and offers secure, selective online report viewing.
    Manage your reports with the Robot Report Management Solution. Key features include:

    - Automated report distribution
    - View online without delay
    - Browser interface to make notes
    - Custom retention capabilities
    - Seamless product integration
    Rerun another report? Never again. Try the Robot Report Management Solution FREE for 30 days.

  • Hassle-Free IBM i Operations around the Clock

    SB HelpSystems SC 5413For over 30 years, Robot has been a leader in systems management for IBM i.
    Manage your job schedule with the Robot Job Scheduling Solution. Key features include:
    - Automated batch, interactive, and cross-platform scheduling
    - Event-driven dependency processing
    - Centralized monitoring and reporting
    - Audit log and ready-to-use reports
    - Seamless product integration
    Scale your software, not your staff. Try the Robot Job Scheduling Solution FREE for 30 days.

  • ACO MONITOR Manages your IBM i 24/7 and Notifies You When Your IBM i Needs Assistance!

    SB DDL Systems 5429More than a paging system - ACO MONITOR is a complete systems management solution for your Power Systems running IBM i. ACO MONITOR manages your Power System 24/7, uses advanced technology (like two-way messaging) to notify on-duty support personnel, and responds to complex problems before they reach critical status.

    ACO MONITOR is proven technology and is capable of processing thousands of mission-critical events daily. The software is pre-configured, easy to install, scalable, and greatly improves data center efficiency.