Posted by: JackDanahy
TomorrowNow, the support company that specializes in PeopleSoft, was acquired by SAP in 2005 and hit with an Oracle lawsuit in 2007. SAP has been eager to sell the company since the second half of 2007, and Rimini Street was rumored to be a buyer. Now the Financial Times Deutschland has put that rumor by to rest by quoting Rimini Street CEO Seth Ravin as saying that his company could not make a business case for such an acquisition, and that in any case Rimini Street has already won over a number of TomorrowNow clients.
Ravin, a cofounder of TomorrowNow and former PeopleSoft VP, sold his 50 percent stake in TomorrowNow to SAP in January, 2005, and stacked it with former PeopleSoft managers.
Just as SAP took advantage of the uncertainty created by Oracle’s hostile bid for PeopleSoft to offer a “safe passage” program, Rimini Street has been offering a transition plan for TomorrowNow clients. Rimini Street has even organized a special transition team to poach these clients. The fact that Rimini Street is no longer interested in TomorrowNow indicates that the transition plan has borne some fruit. SAP will have to look elsewhere for a suitor for TomorrowNow, whose fate seems increasingly troubled.
Demir Barlas, Site Editor