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  • Third-Party ERP Maintenance Firms Report Record-Setting Revenues

    August 14, 2012 Alex Woodie

    Rimini Street and Spinnaker Support–the two largest providers of third-party maintenance for ERP systems–say their businesses are thriving, as ERP customers continue to look for ways to cut costs.

    Spinnaker Support, which provides third-party maintenance of Oracle JD Edwards and SAP ERP systems, says that its revenues for the first half of 2012 were 44 percent higher than they were for the first half of 2011. Its sales bookings were 48 percent higher at the halfway mark of 2012 than they were last year. And the number of customer transactions it has finalized is up 55 percent from last year. The closely held company only provided percentages, not actual figures.

    Much of the up tick in Spinnaker’s numbers can be attributed to its acquisition of Versytec this March. Versytec was one of the first firms to provide third-party maintenance to JD Edwards shops when it entered the market in 2004, and had several dozens of JD Edwards customers, including a good number of World (RPG-based) shops.

    Following the Versytec acquisition, the Denver, Colorado, company claimed to have more than 160 JD Edwards customers around the world. In May, it launched its SAP maintenance business, with three customers already on board.

    Meanwhile, Rimini Street also had a great second quarter. The Las Vegas, Nevada, company, which provides support for its clients’ JD Edwards, SAP, PeopleSoft, Oracle E Business Suite, and Oracle database implementations, says it second quarter revenue totaled $10.5 million, a 30 percent increase over last year’s second quarter, and a new record for the company.

    Rimini says it set record highs in several financial categories, including quarterly revenue, new client invoicing, sales bookings and sales bookings backlog. The company says it completed transactions totaling nearly $53 million in sales bookings, and increased new client invoicing during the quarter by 46 percent, to $5.4 million. Its sales bookings backlog (or the projected amount of sales it has under contract) is more than $470 million.

    Neither Spinnaker nor Rimini are public companies, so the information they provide is limited, and of limited value. However, Rimini–which is considerably larger than Spinnaker and claims 500 customers, including 58 Fortune 500 companies and 14 Global 100 companies–has been very open about its intentions to file an initial public offering (IPO) of stock. Spinnaker, perhaps, is positioning itself to make a similar move, in case a Rimini IPO is wildly successful. Besides, customers need to have choices, even in the third-party maintenance market.

    RELATED STORIES

    Rimini Street Now Offering JD Edwards CNC Services

    Spinnaker Buys Versytec’s Third-Party JDE Support Business

    On the Sunny Side of the Rimini Street

    Spinnaker Says JD Edwards Support Business Growing Fast

    Spinnaker Adds JDE Consulting to 3rd Party Maintenance Business

    Third-Party ERP Support Does Save Money, Nucleus Says

    Rimini Street Counter Sues Oracle

    Oracle Sues Rimini Street Over Support Intellectual Property



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Volume 12, Number 22 -- August 14, 2012
THIS ISSUE SPONSORED BY:

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Table of Contents

  • Dos and Don’ts of DR with Richard D
  • IBM Delivers Tech Preview of New Java-Based 5250 Emulator
  • Progress Hooks DB2/400 to Microsoft LightSwitch RAD Tool
  • Apple’s AuthenTec Buy Validates Biometrics, Valid Tech Says
  • Robot/CONSOLE Gets Smarter with Jobs
  • EXTOL Puts EDI ‘Patterns’ in the Cloud
  • IBM i Playing a Role in Rocket’s Ambitious Growth Strategy
  • Oracle Unveils New JDE EnterpriseOne Reporting Tool
  • Third-Party ERP Maintenance Firms Report Record-Setting Revenues
  • UC4 Sold to Private Equity Firm for $270 Million

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