Rimini Street expands application management services to Oracle
Summary
As the company noted, the global market for application management services is approximately $82 billion and expected to grow more than 5 percent annually. Just a day earlier, as Law360 reports, Rimini asked the Supreme Court to nullify an injunction that the Ninth Circuit Court of Appeals upheld earlier this year, affirming a permanent injunction against Rimini for infringing on Oracles intellectual property rights. Separately, Rimini Street on Thursday published its third quarter financial results, reporting a net loss per share of 7 cents on revenue of $69 million, a year-over-year increase of 10 percent. "In the third quarter, we continued to see improving performance from investments made over the past eighteen months in global sales capacity, productivity and infrastructure," CEO Seth A. Ravin, said in a statement. In the meantime, Stanley Mbugua, previously the companys vice president and corporate controller, was appointed Group VP and Chief Accounting Officer, effective November 5.
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