Related items

• Rimini Street honoured with Multiple Consecutive 'Great Place to Work' certifications and 'leadership Award' Across Asia, Europe and North America
  in Enterprise Staff
  By Rimini Street

  Rimini Street employees in Israel, Japan, Korea, Singapore, UK and USA celebrate the company’s commitment to an extraordinary workplace culture of fairness and togetherness

  COMPANY NEWS: Rimini Street, a global provider of end-to-end enterprise software support and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced it has been honoured with multiple consecutive Great Place to Work® certifications in Israel, Japan, Singapore, UK and USA, and Best Workplaces™ Korea’s Most Respected CEO award for Seth Ravin, CEO of Rimini Street.

  Great Place to Work® is the global authority on workplace culture, employee experience, and leadership behaviours proven to deliver market-leading revenue, employee retention, and increased innovation. Best Workplaces™ awards are granted upon review of the detailed Culture Brief™ benchmarked against industry and regional peers.

  “A colourful melting pot of diverse cultures but sharing a single passion for success, we are proud of our global workforce and passionate leaders starting from our CEO on down, who are committed to making Rimini Street a great place to work for all,” said Brian Almas, senior vice president of global human resources at Rimini Street.

  Rimini Street Employees Feel They are Treated Fairly Regardless of Age, Gender or Race
  The anonymous surveying of Rimini Street employees during the certifications revealed:

  • People here are treated fairly regardless of their age (98%, Japan, 96%, Israel)
  • People are treated fairly regardless of their gender (100%, Singapore, 98%, Japan, 96%, Israel)
  • People here are treated fairly regardless of their race (96%, Israel and Japan)

  Rimini Street Employees Say They Feel Welcome, Heard, and Good About Community Contributions
  Additional highlights of the survey include:

  • When you join the company, you are made to feel welcome (100%, Singapore and UK, 96% Israel, and Japan, 94%, USA)
  • My manager/supervisor and I have open and honest conversations about work (95%, UK)
  • I feel good about the ways we contribute to the community (92%, USA)
  • I am able to take time off from work when I think it’s necessary (91%, USA)

  “Our open-door policy empowers our people to speak up and be actively engaged in shaping our path forward. Whether we are in-person, online or remote, we move together as one on Rimini Street,” said Almas.

  We are Hiring!
  Grow your career at a company that puts its people first and invests in the community. Visit Rimini Street’s career page at: https://www.riministreet.com/company/careers/

  About Rimini Street, Inc.
  Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider and achieved better operational outcomes, realized billions of US dollars in savings and funded AI and other innovation investments.
  To learn more, please visit www.riministreet.com and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn.
• Airports report record aeronautical revenues despite slower growth in passenger numbers
  in Technology Regulation
  By Gordon Peters

  Australia’s four largest airports, Brisbane, Melbourne, Perth and Sydney, each reported their highest ever aeronautical revenues in 2023-24, the ACCC’s latest Airport Monitoring Report shows.

  The 24.3 per cent increase in revenues to $2.6 billion occurred despite the four major airports collectively handling fewer passengers than before the pandemic. While domestic and international passengers grew by 13.7 per cent to 114.6 million since 2022-23, passenger numbers remained 4.7 per cent below 2018-19 levels.

  “The increase in aeronautical revenues in 2023-24 was driven in large part by the continued recovery in international passenger numbers, which rose by 32.1 per cent at the four airports monitored in our report,” Australian Competition and Consumer Commission (ACCC) Commissioner Anna Brakey said.

  “Domestic passenger numbers also grew by 6.7 per cent.”

  Sydney, Brisbane and Melbourne airports also substantially increased their operating profits from aeronautical activities in 2023-24.

  “Sydney Airport was once again clearly the most profitable of the four major airports for aeronautical services in 2023-24, both in aggregate and on a per-passenger basis,” Ms Brakey said.

  In 2023-24 Sydney Airport recorded an aeronautical operating profit of $570.5 million, which represented a 20.2 per cent return on its aeronautical assets. Sydney Airport advised that both its aeronautical revenues and operating profits in the year were inflated by back-payments received during the 2023-24 financial year from its contractual agreements with airlines. The agreements started on 1 July 2022, but the terms were not agreed to until the 2023-24 financial year.

  Brisbane and Melbourne airports reported aeronautical operating profits of $194.7 million and $198.9 million respectively, despite Brisbane Airport catering to far fewer passengers than Melbourne Airport. Both airports reported a 64.1 per cent increase in aeronautical operating profit in 2023-24.

  Perth Airport was the only monitored airport to report a fall in aeronautical profits, down by 29.1 per cent to $70.7 million after a significant increase in security and depreciation expenses.

  Car parking profits and ‘landside access’ revenues up

  Operating profits from car parking grew for all four airports in 2023-24. Brisbane Airport made the largest profits, increasing by 21.1 per cent to $113.4 million. Melbourne Airport made an operating profit of $108.1 million from car parking, followed by Sydney Airport with $95.6 million and Perth Airport with $70.7 million.

  All four monitored airports reported operating profit margins above 60 per cent for the second year in a row for their car parking operations.

  “Car parking remains a very profitable business for the monitored airports as they report strong demand for parking,” Ms Brakey said.

  “Brisbane Airport made an operating profit of 76.6 cents for every dollar of revenue it collected from car parking.”

  Sydney Airport was the most expensive for 30 to 60 minute parking and parking for up to 24 hours at the terminal, while Melbourne Airport was the cheapest in both categories.

  Long-term parking at a distance from the terminal booked online was most expensive at Perth and Sydney airports and cheapest at Melbourne Airport.

  “To save money, motorists are encouraged to book online, if possible, instead of paying the drive-up rates, and should consider using free waiting zones at the airports,” Ms Brakey said.

  Revenues from landside transport access services, such as rideshare operators, taxis and buses, grew by 18 per cent to $69.6 million, as vehicle numbers rebounded. All four airports continued to report a growth in rideshare services.

  Airports maintain their ‘good’ quality of service rating, despite falling satisfaction from airlines

  All four airports maintained an average overall rating of ‘good’ for the quality of service and facilities in 2023-24.

  These results were mainly due to high ratings by passengers, continuing consistent trends over the last 10 years.

  Ratings by airlines generally fell, and all four airports received only a ‘satisfactory’ result. The most common airline concerns related to aircraft parking facilities, baggage facilities, common user check-in facilities, aerobridges and public amenities.

  “The airports all maintained their ‘good’ rating for quality of service, which is based on surveys of passengers and airlines, as well as objective measures such as the number of check-in kiosks per passenger,” Ms Brakey said.

  “However, the falling satisfaction from airlines indicates the airports have some work to do.”

  Airports have recommenced investment after Covid

  After years of relatively little investment due to the pandemic, the airports have invested $985.1 million in aeronautical facilities in 2023-24, a figure set to increase in coming years.

  Melbourne airport’s $502.3 million investment accounted for more than half the total investment in aeronautical assets in 2023-24. This included work on runway overlays, taxiways and terminals, such as the replacement of passenger screening equipment as well as works to resurface the north-south runway and replace the lighting system.

  Other major projects underway, or recently announced, include new runways for Melbourne and Perth, new terminals for Perth and Brisbane, upgrades to terminals in Brisbane, Sydney and Melbourne.

  A new airport will also open at Western Sydney in 2026.

  “While the four major airports held back on investment during the pandemic period, this is starting to change now there is more certainty around demand for travel,” Ms Brakey said.

  “These significant capital works should help increase capacity at our major airports, leading to more flight options for travellers.”
  Details of airports' investment after Covid

  Background

  Under direction from the Australian Government, the ACCC monitors the prices, costs and profits of aeronautical and car parking services at Australia’s four largest airports. The ACCC also monitors the quality of these services under the Airports Act.

  The possible ratings for airport quality of services are ‘very poor’, ‘poor’, ‘satisfactory’, ‘good’ or ‘excellent’.

  The ACCC measures operating profit by earnings before interest, taxes and amortisation (EBITA). Operating profit margin is EBITA as a percentage of revenue.

  Aeronautical operations are those that directly relate to providing aviation services, including runways, aprons, aerobridges, departure lounges and baggage handling equipment.
• UiPath acquires Peak to ‘launch vertically specialised agents’ within its Agentic Automation Platform
  in Deals
  By Gordon Peters

  Enterprise automation and A1 software company UiPath has announced the acquisition of Peak, an AI-native company based in Manchester, United Kingdom.

  UiPath says the Peak AI platform optimises product inventory and pricing for businesses of all sizes and across a wide range of industries, providing customers with tangible outcomes quickly and without the need for large, in-house tech teams.

  “With the acquisition of Peak, we are accelerating our mission to strengthen our vertical AI solutions strategy,” said Daniel Dines, Founder and CEO of UiPath. “When combined with the UiPath platform, Peak’s exceptional purpose-built AI applications will enhance our ability to provide solutions that optimise industry-specific use cases and deliver incredible value to customers.”

  
  UiPath says that Peak enables customers to develop AI workflows, process data, and provide predictions that are used to optimise critical business processes through APIs or integrated web applications - and it also provides a new breed of AI-based decisioning applications that enable business users to make highly complex decisions such as planning inventory and optimising product pricing decisions.

  {loadposition peter}

  “Now as part of UiPath, Peak’s solutions can scale globally and reach new industries, allowing customers and stakeholders the opportunity for continued growth and innovation. In turn, Peak’s focus on accelerating AI adoption in sectors like retail and manufacturing will enable UiPath to accelerate market growth and deliver vertical-oriented, next-generation AI-driven agentic applications with intelligence powered by LLMs,” notes UiPath.

  “Joining forces with UiPath is the perfect next step for Peak at this stage of our journey, and I couldn’t be more excited. As automation and agentic AI converge, we’re entering a new era of possibilities for the enterprise,” said Richard Potter, CEO & Co-Founder of Peak. “UiPath’s global reach, deep enterprise expertise, and unwavering commitment to AI innovation will enable us to accelerate our vision—empowering businesses with specialised decision-making AIs at scale. We are incredibly proud of what we’ve built, and as part of UiPath, we look forward to delivering even greater value to our customers while pushing the boundaries of what’s possible with AI in the enterprise.”

  According to UiPath, Peak will further enhance the UiPath agentic automation platform.

  “For example, organisations must meet stringent requirements for complex calculations in a variety of business processes. Businesses require accurate analysis and predictions they can trust, and Peak’s solutions will form the backbone of new Pricing and Inventory Agents for UiPath customers. Peak’s broader Decision Intelligence capabilities will also factor into the orchestration capabilities in the UiPath agentic automation platform, allowing for autonomous processes based on contextual customer data.

  “Customers of both UiPath and Peak will now have the opportunity to realise increased revenue and margin improvement with the combined technologies. UiPath and Peak have already been able to provide such opportunities for success through their existing partnership.

  “For example, UiPath and Peak transformed the quoting pricing process for Heidelberg Materials, based in the United Kingdom and one of the world’s largest building materials manufacturers. The solution uses automation to collate data from hundreds of data points, leverages AI to determine an optimal quote for a given customer, and informs sales professionals. With this automated end-to-end process, Heidelberg Materials is experiencing much greater sales team efficiency through faster quotation times and increased conversion rates,” concludes UiPath.
• AMP secures an additional AUD20m to ‘revolutionise eCommerce with AI’
  in Strategy
  By Gordon Peters

  AI-driven ecommerce software platform AMP, based in Australia, has secured $20 million in new funding and acquired Back In Stock, a popular Shopify app for back-in-stock notifications.

  AMP says the investment from existing investor Openspace Ventures, and new investor One Ventures, brings its total capital raised to AUD$50m (USD$30.5M).

  To accompany the fundraise, AMP has announced the acquisition of Back in Stock, an ecommerce tool that allows merchants to easily trigger automatic back in stock alerts to customers when they restock their favorite products.

  “The acquisition means AMP can better address a fundamental problem for ecommerce merchants – recovering lost sales – as well as significantly bolster its AI capabilities. Back In Stock has sent over 300 million restock notifications to shoppers and helped merchants recover more than $1.8 billion in revenue that would have been lost due to stockouts,” AMP notes.

  {loadposition peter}

  “The integration of Back In Stock will enable AMP to harness over 300 million restock notifications, transforming buyer intent data into actionable insights that power real-time personalisation and conversion optimisation. This acquisition not only expands AMP’s product offerings, but also brings thousands of new merchants into its ecosystem, creating powerful cross-selling and data insights opportunities across the combined user base.

  “AMP will also onboard Back In Stock’s 25,000 customers across North America, UK, Europe and APAC. Notable logos include Kardashian-owned SKIMS and Kylie Cosmetics, as well as Redbull, Steve Madden and local Australian brands UGG Express, Princess Polly and DISSH.”

  Founded by multi-exit entrepreneurs, Cameron Priest and Patrick Barnes, AMP “has achieved significant growth since its US$18.5m Series A in September 2023. It has sustained an ARR growth rate of +150% YoY and more than doubled its customer footprint from 20K to 45K, with household names like Liquid Death and Summer Fridays part of its portfolio.”

  “The AUD $20M capital raise and the acquisition of Back In Stock are strong indicators of our continued growth and intent to build the world’s best AI-powered platform for ecommerce merchants," said AMP CEO Patrick Barnes. “The acquisition will significantly bolster our platform, allow us to keep solving multiple problems for ecommerce merchants under one roof, and at a competitive price. Our platform model allows customers to do more with less, so it’s vital that we continue investing in it.”

  Co-founder, Cameron Priest, added, “Over the next year, the AMP platform will see significant additions to its suite of solutions, along with improvements to existing solutions, more integrations and exciting partnerships, strengthening our commitment to helping ecommerce merchants drive incremental revenue and profitable growth, as well as broadening our presence across North America, Europe and APAC. This move underscores AMP's commitment to providing cutting-edge solutions to the most ambitious and fastest growing brands in the world.”

  Shane Chesson, Partner at Openspace Ventures, which co-led AMP’s Series A, and participated in this most recent fundraise alongside OneVentures, says, “Cameron and Patrick have a clear vision and it's one we are excited to be part of. Our latest investment alongside OneVentures will provide an additional influx of capital for AMP to continue investing into its AI capabilities, as well as strengthening its footprint both in Australia and overseas. The company’s traction since the previous funding round has been significant – and we’re confident that the next period can continue on the same trajectory.”

  About AMP: Founded in 2022, AMP is a platform of interconnected, high-performance, AI-powered solutions. It is built to power and scale eCommerce businesses, while solving multiple problems. This includes unlocking the metrics that matter, such as return on ad spend, clarity on marketing efficiency, product mix, customer behaviour, and actionable insights on what profitability levers to pull. It also provides intuitive tools to enhance the onsite experience and performance.

  In addition, AMP enables eCommerce brands to deliver smart shopping experiences, simplify and reduce their tech stack and overheads to make fast, profitable data driven decisions, and provides the tools to drive average order value (AOV) and incremental revenue onsite. More: useamp.com 
• Sovereign Australian Prime Alliance (SAPA) welcomes much needed reforms to Commonwealth procurement rules
  in Company news
  By SAPA
  • New definition of Australian business will help government accurately direct policies involving government procurement.
  • Updated guidance on Broader Economic Benefits in Procurement considerations will help Government better understand the positive economic impacts generated from government expenditures with industry.

  COMPANY NEWS: The Sovereign Australian Prime Alliance (SAPA) congratulates the Albanese Government on its announcement of much needed reforms to the Commonwealth Procurement Rules to define an Australian business, in the context of the Commonwealth procurement framework as:

  a. “a business, including any parent business, that:
       i   has 50% or more Australian ownership or is principally traded on an Australian equities market; and
       i i is an Australian resident for tax purposes; and
  b. is a business that has its principal place of business in Australia.”

  SAPA has always maintained that definitions are an essential building block when designing and implementing industry policies. When policies are developed without accurate definitions to guide them, policy failure is almost certain.

  Now, armed with a commonsense definition of an Australian business, Government will be able to make accurate assessments of policies affecting Australia’s industrial base – both local and international – and direct future policies with confidence.

  SAPA also welcomes the additional reform to Commonwealth Procurement Rules, introducing the Broader Economic Benefits in Procurement metric when making value judgements in government tendering. This reform will require future government procurement to consider a broader range of weightings, priority outcomes, and contracting considerations when assessing submissions for government contracts.

  Along with multiple industry peak bodies, SAPA participated in the Ministerial Working Group (Working Group) to help shape this important bipartisan reform. We look forward to working with Commonwealth government departments as this new reform gets embedded in future procurement and tendering processes, and we encourage state/ territory governments to adopt this commonsense solution which has been led at the Federal level.

  SAPA acknowledges the work of everyone involved in the Working Group and pays particular mention to representatives of the Department of Finance, and the Department of Industry, Science & Resources, as well as the offices of Minister for Finance, Sen. the Hon. Katy Gallagher and Minister for Industry, Science & Resources the Hon Ed Husic MP for their commitment to reaching this positive outcome.

  We would also like to thank Senator for ACT David Pocock and his office for their advocacy for this important reform.

  About SAPA
  The Sovereign Australian Prime Alliance (SAPA) is an informal grouping of large Australian prime contractors to the Federal Government. We comprise:

  • AUSTAL – Australia’s global shipbuilder;
  • Gilmour Space – Australia's leading venture-capital-backed space technology company;
  • DroneShield (ASX:DRO) - Australia's world leader in counter-drone solutions;
  • Macquarie Technology Group (ASX: MAQ) – Australia’s data centre, cloud, cyber security and telecom company; and
  • NIOA – Australia’s leading weapon system and integrated solider systems provider and supporter.

  SAPA formed in 2022 to advocate the important economic and social contributions sovereign Australian prime contractors provide the Australian economy – including to Australian SMEs – and to push for genuine sovereign capability in areas that are critical to Australia’s national security and defence interests.

  Our shared goal is to advocate for Federal Government to cultivate and support Australia’s sovereign prime contractor companies in the interests of achieving a more self-reliant Australia.