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müsste bald der neue Name von GP Investment Acquisition werden:
Rimini Street, Inc. and GP Investments Acquisition Corp. Announce Signing of Definitive Merger Agreement
Transaction will provide Rimini Street additional growth capital to expand service offerings and capabilities, strengthen balance sheet, and fund potential acquisitions; Combined company to be named Rimini Street, Inc. and trade on NASDAQ as “RMNI”
LAS VEGAS and NEW YORK, May 16, 2017 -
Rimini Street, Inc. ("Rimini Street" or the "Company") and GP Investments Acquisition Corp. (NASDAQ: GPIA; GPIAW; GPIAU) ("GPIAC") have entered into a definitive merger agreement, which will result in the merger of Rimini Street with and into GPIAC. At closing of the transaction, GPIAC is expected to be renamed Rimini Street, Inc. and continue trading on NASDAQ under the new ticker symbol "RMNI."
Rimini Street, founded in 2005, is the leading global provider of independent enterprise software support services. The Company provides subscription-based support services for software products licensed by Oracle Corporation, SAP SE and other software vendors. As of March 31, 2017, Rimini Street has reported annual run-rate revenues exceeding $196 million and has achieved a revenue CAGR of 37% since 2014. The Company employs approximately 900 professionals across 13 countries of operation, and currently serves over 1,200 clients - including nearly 100 of the Fortune 500 and Global 100.
GPIAC is a special purpose acquisition company (SPAC) created by GP Investments in May 2015 via an IPO that raised $172.5 million in proceeds for the purpose of investing in companies with long-term growth potential in the consumer and services sectors.
Upon transaction closing, Seth A. Ravin, founder, CEO and chairman of the board of directors of Rimini Street, will be appointed CEO and chairman of the board of directors of the combined entity. At closing, the board of directors of the combined entity is expected to consist of nine directors, of which seven (including Mr. Ravin) will be designated by Rimini Street and two will be designated by GPIAC.
"As a high-growth company capitalizing on a large, global addressable market, Rimini Street presents an attractive investment opportunity. The Company's client value proposition, seasoned management team, track record of execution and years of consecutive growth are very compelling," said Antonio Bonchristiano, CEO of GPIAC and GP Investments, Ltd. "Rimini Street is a proven innovator and market disruptor."
"Rimini Street has delivered 45 consecutive quarters of revenue growth by providing value-driven, innovative support solutions and exceptional service that meet the global needs of enterprise software licensees. The combination with GPIAC will provide Rimini Street additional growth capital to expand service offerings and capabilities, strengthen our balance sheet and fund potential acquisitions," said Mr. Ravin. "We believe that having a public company structure will further fuel our growth by facilitating additional sales opportunities and providing additional capital market access. We are pleased to enter into this transaction and work with GP Investments, Ltd. as a new investor and business partner with a proven track record of providing value to growth companies."
Transaction Details
Under the terms of the definitive agreement, the transaction will be funded via the issuance of approximately 63.8 million shares of GPIAC common stock at $10.00 per share to Rimini Street’s shareholders. Cash at closing in GPIAC’s trust account and cash proceeds from the issuance of up to 3.5 million shares of GPIAC common stock at $10.00 per share to an affiliate of GP Investments, Ltd. will provide required cash at closing used to pay certain transaction expenses, reduce net debt and provide additional balance sheet cash.
The anticipated initial enterprise value is approximately $837 million, implying a multiple of 2.8x 2018E revenue of $295 million, with a post-closing equity value of $854 million at $10.00 per share. At consummation of the transaction, a merger subsidiary of GPIAC will merge with and into Rimini Street, with Rimini Street as the surviving entity, which would then merge with and into GPIAC, which will move its jurisdiction of incorporation from the Cayman Islands to the State of Delaware prior to consummation.
After giving effect to the transaction and certain assumptions, current GPIAC shareholders are expected to own approximately 25% of the combined company on a fully-diluted basis, and current Rimini Street shareholders will exchange their Rimini Street shares for approximately 75% pro forma ownership of the combined company.
The transaction, which has been approved by the boards of directors of both companies, is subject to approval of GPIAC and Rimini Street shareholders and the satisfaction or waiver of customary closing conditions, including regulatory approvals.
Rimini Street shareholders representing a sufficient amount of Rimini Street's capital stock necessary to approve the transaction have entered into a transaction support and voting agreement pursuant to which they have agreed to support and vote all of their shares in favor of the transaction. In addition, at its previously announced extraordinary general meeting to be held on May 23, 2017, GPIAC shareholders of record at the close of business on April 24, 2017 must approve certain proposals relating to the proposed extension from May 26, 2017 to November 27, 2017, the date by which GPIAC must consummate an initial business combination.
Assuming receipt of such shareholder approvals, government approvals and satisfaction of all closing conditions, the transaction is expected to close in the third quarter of 2017.
Citigroup served as financial and capital markets advisor to GPIAC. Cowen and Company served as financial and capital markets advisor to Rimini Street. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to GPIAC, and Wilson Sonsini Goodrich & Rosati acted as legal advisor to Rimini Street.
Rimini Street, Inc. and GP Investments Acquisition Corp. Announce Signing of Definitive Merger Agreement
Transaction will provide Rimini Street additional growth capital to expand service offerings and capabilities, strengthen balance sheet, and fund potential acquisitions; Combined company to be named Rimini Street, Inc. and trade on NASDAQ as “RMNI”
LAS VEGAS and NEW YORK, May 16, 2017 -
Rimini Street, Inc. ("Rimini Street" or the "Company") and GP Investments Acquisition Corp. (NASDAQ: GPIA; GPIAW; GPIAU) ("GPIAC") have entered into a definitive merger agreement, which will result in the merger of Rimini Street with and into GPIAC. At closing of the transaction, GPIAC is expected to be renamed Rimini Street, Inc. and continue trading on NASDAQ under the new ticker symbol "RMNI."
Rimini Street, founded in 2005, is the leading global provider of independent enterprise software support services. The Company provides subscription-based support services for software products licensed by Oracle Corporation, SAP SE and other software vendors. As of March 31, 2017, Rimini Street has reported annual run-rate revenues exceeding $196 million and has achieved a revenue CAGR of 37% since 2014. The Company employs approximately 900 professionals across 13 countries of operation, and currently serves over 1,200 clients - including nearly 100 of the Fortune 500 and Global 100.
GPIAC is a special purpose acquisition company (SPAC) created by GP Investments in May 2015 via an IPO that raised $172.5 million in proceeds for the purpose of investing in companies with long-term growth potential in the consumer and services sectors.
Upon transaction closing, Seth A. Ravin, founder, CEO and chairman of the board of directors of Rimini Street, will be appointed CEO and chairman of the board of directors of the combined entity. At closing, the board of directors of the combined entity is expected to consist of nine directors, of which seven (including Mr. Ravin) will be designated by Rimini Street and two will be designated by GPIAC.
"As a high-growth company capitalizing on a large, global addressable market, Rimini Street presents an attractive investment opportunity. The Company's client value proposition, seasoned management team, track record of execution and years of consecutive growth are very compelling," said Antonio Bonchristiano, CEO of GPIAC and GP Investments, Ltd. "Rimini Street is a proven innovator and market disruptor."
"Rimini Street has delivered 45 consecutive quarters of revenue growth by providing value-driven, innovative support solutions and exceptional service that meet the global needs of enterprise software licensees. The combination with GPIAC will provide Rimini Street additional growth capital to expand service offerings and capabilities, strengthen our balance sheet and fund potential acquisitions," said Mr. Ravin. "We believe that having a public company structure will further fuel our growth by facilitating additional sales opportunities and providing additional capital market access. We are pleased to enter into this transaction and work with GP Investments, Ltd. as a new investor and business partner with a proven track record of providing value to growth companies."
Transaction Details
Under the terms of the definitive agreement, the transaction will be funded via the issuance of approximately 63.8 million shares of GPIAC common stock at $10.00 per share to Rimini Street’s shareholders. Cash at closing in GPIAC’s trust account and cash proceeds from the issuance of up to 3.5 million shares of GPIAC common stock at $10.00 per share to an affiliate of GP Investments, Ltd. will provide required cash at closing used to pay certain transaction expenses, reduce net debt and provide additional balance sheet cash.
The anticipated initial enterprise value is approximately $837 million, implying a multiple of 2.8x 2018E revenue of $295 million, with a post-closing equity value of $854 million at $10.00 per share. At consummation of the transaction, a merger subsidiary of GPIAC will merge with and into Rimini Street, with Rimini Street as the surviving entity, which would then merge with and into GPIAC, which will move its jurisdiction of incorporation from the Cayman Islands to the State of Delaware prior to consummation.
After giving effect to the transaction and certain assumptions, current GPIAC shareholders are expected to own approximately 25% of the combined company on a fully-diluted basis, and current Rimini Street shareholders will exchange their Rimini Street shares for approximately 75% pro forma ownership of the combined company.
The transaction, which has been approved by the boards of directors of both companies, is subject to approval of GPIAC and Rimini Street shareholders and the satisfaction or waiver of customary closing conditions, including regulatory approvals.
Rimini Street shareholders representing a sufficient amount of Rimini Street's capital stock necessary to approve the transaction have entered into a transaction support and voting agreement pursuant to which they have agreed to support and vote all of their shares in favor of the transaction. In addition, at its previously announced extraordinary general meeting to be held on May 23, 2017, GPIAC shareholders of record at the close of business on April 24, 2017 must approve certain proposals relating to the proposed extension from May 26, 2017 to November 27, 2017, the date by which GPIAC must consummate an initial business combination.
Assuming receipt of such shareholder approvals, government approvals and satisfaction of all closing conditions, the transaction is expected to close in the third quarter of 2017.
Citigroup served as financial and capital markets advisor to GPIAC. Cowen and Company served as financial and capital markets advisor to Rimini Street. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to GPIAC, and Wilson Sonsini Goodrich & Rosati acted as legal advisor to Rimini Street.
Antwort auf Beitrag Nr.: 55.927.892 von R-BgO am 11.10.17 13:18:49Thread: SPICE Private Equity, vormals Apen
Antwort auf Beitrag Nr.: 55.927.934 von R-BgO am 11.10.17 13:21:03Thread: GP Investments
Antwort auf Beitrag Nr.: 55.927.877 von R-BgO am 11.10.17 13:17:33Rimini Street Announces Fiscal 2017 Q2 Financial Results
* Revenue of $52 million, up 37% year over year
* Annualized subscription revenue of $208 million, up 37% year over year
* Deferred revenue of $170 million, up 29% year over year
* Year to date gross profit of 63%, up from 58% year over year
* Announced signing of definitive merger agreement with GP Investments Acquisition Corp.
LAS VEGAS, August 10, 2017 -
Rimini Street, Inc. ("Rimini Street" or the "Company") a global provider of enterprise software products and services, and a leading independent support provider for Oracle and SAP products, today announced results for its fiscal 2017 Q2 ending June 30, 2017.
2017 Q2 Financial Highlights
Fiscal 2017 Q2 marked Rimini Street’s 46th consecutive quarter of sequential revenue growth. Results included record quarterly revenue of $52 million, a quarterly increase of 37% year over year, and annualized subscription revenue of $208 million, up 37% year over year. Additional 2017 Q2 financial highlights include:
-Deferred revenue of $170 million, an increase of 29% year over year
-Revenue retention rate of 94% for the 12 months ended June 30, 2017
-Gross profit for the first six months of 2017 of 63%, up from 58% for the same period a year ago
-Rimini Street signed 100 new clients in the quarter and ended the quarter with over 1,330 active clients, an increase of 39% year over year, and increased its worldwide employee headcount by 17% year over year to a total of 909 professionals, as of June 30, 2017.
2017 Q2 Business Highlights
Announced a definitive merger agreement with GP Investments Acquisition Corp. (NASDAQ: GPIA) which will result in the combined company trading on NASDAQ Global Markets under the new ticker symbol "RMNI" at closing. The merger is expected to close in September 2017 and will provide the combined company with additional resources to strengthen its balance sheet, pay down debt, gain access to public capital, and expand its service offerings and capabilities worldwide.
Expanded availability of support for six new database products including IBM DB2, Microsoft SQL Server and SAP's Sybase family of database products. The Company now services a portfolio of 19 product lines.
Launched Rimini Street Advanced Database Security, a next-generation security solution that protects databases from both known and unknown vulnerabilities.
Recognized as a "Top Workplace" by the Bay Area News Group for the fourth time based on Company culture, work environment, communication policies and employee benefits.
Certified as a Tier 1 Vendor in Israel for Application Support Outsourcing by analyst firm STKI, and cited as the fastest-growing IT vendor in Israel and the only independent software support provider to achieve STKI Tier 1 Vendor status.
Honored with seven Stevie awards in the 2017 American Business Awards program, including Most Innovative Tech Company of the Year.
Recognized by the 2017 Asia-Pacific Stevie Awards for Innovation in Customer Service Management, Planning & Practice, distinguishing the achievements of Rimini Street's Global Support Department in customer service and innovation.
Made the San Francisco Business Times' "Top Software Companies in the Greater Bay Area" list for the second consecutive year.
Closed a Company record number of support cases in one quarter with over 7,000 cases closed across 44 countries, and again achieved an average client satisfaction score of 4.8 out of 5.0 (where 5.0 is "excellent"). The Company also averaged less than five minutes response time for all Priority 1 cases.
Presented at 19 CIO and IT and procurement leader events worldwide, including Gartner's CIO Summits in Canada and Germany, and IDC's CIO Summits in Korea and New Zealand.
Funded and staffed numerous Rimini Street Foundation charitable activities in communities around the world.
"Rimini Street continued to execute its global business plan with a relentless focus on delivering high quality, ultra-responsive support to its global clients, while expanding its product and service portfolio, growing its global workforce and delivery capabilities, and achieving record quarterly revenue with our 46th consecutive quarter of revenue growth," said Seth Ravin, Rimini Street CEO. "Following the completion of our signed merger agreement with GP Investments Acquisition Corp., we expect to further execute against our business plan with the increased global resources and capabilities we believe will result from a combination of the two companies."
* Revenue of $52 million, up 37% year over year
* Annualized subscription revenue of $208 million, up 37% year over year
* Deferred revenue of $170 million, up 29% year over year
* Year to date gross profit of 63%, up from 58% year over year
* Announced signing of definitive merger agreement with GP Investments Acquisition Corp.
LAS VEGAS, August 10, 2017 -
Rimini Street, Inc. ("Rimini Street" or the "Company") a global provider of enterprise software products and services, and a leading independent support provider for Oracle and SAP products, today announced results for its fiscal 2017 Q2 ending June 30, 2017.
2017 Q2 Financial Highlights
Fiscal 2017 Q2 marked Rimini Street’s 46th consecutive quarter of sequential revenue growth. Results included record quarterly revenue of $52 million, a quarterly increase of 37% year over year, and annualized subscription revenue of $208 million, up 37% year over year. Additional 2017 Q2 financial highlights include:
-Deferred revenue of $170 million, an increase of 29% year over year
-Revenue retention rate of 94% for the 12 months ended June 30, 2017
-Gross profit for the first six months of 2017 of 63%, up from 58% for the same period a year ago
-Rimini Street signed 100 new clients in the quarter and ended the quarter with over 1,330 active clients, an increase of 39% year over year, and increased its worldwide employee headcount by 17% year over year to a total of 909 professionals, as of June 30, 2017.
2017 Q2 Business Highlights
Announced a definitive merger agreement with GP Investments Acquisition Corp. (NASDAQ: GPIA) which will result in the combined company trading on NASDAQ Global Markets under the new ticker symbol "RMNI" at closing. The merger is expected to close in September 2017 and will provide the combined company with additional resources to strengthen its balance sheet, pay down debt, gain access to public capital, and expand its service offerings and capabilities worldwide.
Expanded availability of support for six new database products including IBM DB2, Microsoft SQL Server and SAP's Sybase family of database products. The Company now services a portfolio of 19 product lines.
Launched Rimini Street Advanced Database Security, a next-generation security solution that protects databases from both known and unknown vulnerabilities.
Recognized as a "Top Workplace" by the Bay Area News Group for the fourth time based on Company culture, work environment, communication policies and employee benefits.
Certified as a Tier 1 Vendor in Israel for Application Support Outsourcing by analyst firm STKI, and cited as the fastest-growing IT vendor in Israel and the only independent software support provider to achieve STKI Tier 1 Vendor status.
Honored with seven Stevie awards in the 2017 American Business Awards program, including Most Innovative Tech Company of the Year.
Recognized by the 2017 Asia-Pacific Stevie Awards for Innovation in Customer Service Management, Planning & Practice, distinguishing the achievements of Rimini Street's Global Support Department in customer service and innovation.
Made the San Francisco Business Times' "Top Software Companies in the Greater Bay Area" list for the second consecutive year.
Closed a Company record number of support cases in one quarter with over 7,000 cases closed across 44 countries, and again achieved an average client satisfaction score of 4.8 out of 5.0 (where 5.0 is "excellent"). The Company also averaged less than five minutes response time for all Priority 1 cases.
Presented at 19 CIO and IT and procurement leader events worldwide, including Gartner's CIO Summits in Canada and Germany, and IDC's CIO Summits in Korea and New Zealand.
Funded and staffed numerous Rimini Street Foundation charitable activities in communities around the world.
"Rimini Street continued to execute its global business plan with a relentless focus on delivering high quality, ultra-responsive support to its global clients, while expanding its product and service portfolio, growing its global workforce and delivery capabilities, and achieving record quarterly revenue with our 46th consecutive quarter of revenue growth," said Seth Ravin, Rimini Street CEO. "Following the completion of our signed merger agreement with GP Investments Acquisition Corp., we expect to further execute against our business plan with the increased global resources and capabilities we believe will result from a combination of the two companies."
Trading Spotlight
inzwischen gibt es auch eine Investorenpräsentation:
https://investors.riministreet.com/static-files/6a48798b-508… offenbar hat die WKN sich geändert,
deswegen neuer Thread: Rimini Street
deswegen deadwood
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