Software maintenance provider Rimini Street has reported year-on-year revenue growth of 41 per cent for Q2 of 2016.
The third-party maintenance provider, which provides support to SAP and Oracle customers, saw revenue increase to $39.1m in the quarter ending 30 June, while billings jumped 74 per cent to $56.4m.
The strong performance comes after the firm received a $125m cash injection last month, while its long-running legal battle with Oracle rumbles on.
Seth Ravin, CEO at Rimini Street, said: "IT budgets remain largely flat to only single-digit growth, and CIOs need to cut excessive spending on enterprise resource planning systems to free up additional budget funds for innovation that will enable growth, while at the same time obtaining more comprehensive, relevant and value-driven ERP system support.
"Rimini Street is meeting this market demand with support solutions for Oracle and SAP products that reduce a licensee's total maintenance costs by up to 90 per cent, while providing a breadth of premium support services and responsiveness that far exceeds that of standard software vendor maintenance offerings."
Rimini Street signed up 107 new customers in the quarter, a year-on-year jump of 98 per cent, which takes its total customer base to 1,451 worldwide.
CRN's Nima Green caught up with Chris Labrey for a quick Q&A at CRN's recent European Channel Leadership Forum
We caught up with the Atea chief exec at CRN's European Channel Leadership Forum in London
Andy Gillett has been appointed GM for the UK and Ireland
UK is one of two countries to see rollout of vendor's newest subscription service