SAN JOSE, CA -- (Marketwired) -- 05/15/13 -- Bridge Bank, a subsidiary of Bridge Capital Holdings (NASDAQ: BBNK), a full service professional business bank headquartered in Silicon Valley and with offices located nationwide, announced today it recently closed $15 million in funding for Rimini Street, Inc.
"As a high-growth, pre-IPO company that is rapidly expanding operations and serving a global client base, Rimini Street wanted to select a partner in this financing round that would provide a flexible, cost effective, and tailored solution to support our accelerating global expansion," said Seth Ravin, chief executive officer, Rimini Street, Inc. "Bridge Bank is that partner. Bridge has worked closely with Rimini Street as a valued banking partner since 2010 and has been a key player in our growth and business plan execution," Ravin added.
"We were very pleased to partner with Rimini Street on this financing round, and support Rimini Street's continued fast-paced global expansion," said Sarah Schmidt, senior vice president in Bridge Bank's Capital Finance Division. "Rimini Street has experienced rapid growth averaging more than 30 percent annually, and we are pleased to continue to be a part of this exciting success story," she added.
About Rimini Street, Inc.
Rimini Street is the leading third-party maintenance and support provider for enterprise software, including SAP AG and Oracle Corporation software. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs over a decade, including saving 50 percent on annual support fees. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit www.riministreet.com. Follow Rimini Street at @RiminiStreet.
About Bridge Bank, National Association
Recognized by SNL Financial on their 2012 Top 100 Performing Banks with assets between $500 million and $5 billion, and designated "Superior" by BauerFinancial and IDC, Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001. From the very beginning, our goal has been to offer small-market and middle-market businesses from across many industries a better way to bank. We provide a surprisingly broad range of financial solutions, enabling us to meet our clients' varied needs across all stages -- from inception to IPO and beyond. It's how we go about doing so that differentiates us from our competition. Bridge Bank's product offering includes growth capital, equipment and working capital credit facilities and treasury management solutions, along with a full line of international products and services and financing secured by domestic, government and foreign receivables.
Learn more at the new www.bridgebank.com. Follow us @BridgeBank.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on the NASDAQ stock market under the trading symbol BBNK. Bridge Bank Holding Company was recently admitted to Sandler O'Neill's Class of 2012 "Sm-All Stars" -- a select group of 25 top-performing publicly traded banks and thrifts from throughout the U.S. with market capitalization of up to $2 billion. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
Add to Digg Bookmark with del.icio.us Add to Newsvine
