Rackspace Technology, Inc. - RXT STOCK NEWS

Rackspace Technology (NASDAQ: RXT) has achieved the AWS Travel and Hospitality Competency, recognizing its expertise in assisting businesses in the travel and hospitality sector. This designation highlights Rackspace's proficiency in leveraging cloud technologies to enhance operational efficiencies and customer experiences amidst challenges posed by COVID-19. The company serves various segments, including airlines, hotels, and entertainment venues, enabling them to better predict customer behavior and streamline processes for improved service delivery.

Rackspace Technology (NASDAQ: RXT) has announced the launch of new professional services and solutions during AWS re:Invent 2020. The company is now among the first AWS Consulting Partners to offer services via the AWS Marketplace, enhancing customer access to its expertise. Key offerings include Cloud Native Security for AWS, MLOps Foundations, and AWS Outposts Managed services. Additionally, Rackspace received the AWS Travel and Hospitality Competency designation, showcasing its capabilities in transforming customer operations in response to COVID-19.

Rackspace Technology (NASDAQ: RXT) has been recognized as a leader in Forrester's December 2020 report on Multicloud Managed Services Providers. The evaluation assessed 11 vendors based on 24 criteria across three categories: current offering, strategy, and market presence. Rackspace achieved a perfect score in 8 criteria, including execution and innovation roadmap. CEO Kevin Jones emphasized their commitment to multicloud solutions, while the report highlighted the company's ability to adapt to customer needs and its innovative Rackspace Service Blocks™ methodology.

Rackspace Technology (NASDAQ: RXT) announced an enhanced partnership with PipeSearch, a software company focused on the global pipe industry. The collaboration aims to bring advanced data modernization and machine learning capabilities to streamline inventory management processes. PipeSearch will utilize a machine learning model developed by Onica to normalize inventory data, achieving over 80% confidence in results within just one week. This innovative solution is expected to facilitate better market insights and operational efficiencies for customers in the pipe industry.

Rackspace Technology (NASDAQ: RXT) is collaborating with the International Air Transport Association (IATA) to enhance airline standards amid COVID-19 disruptions. IATA, representing 290 airlines, is modernizing its IT infrastructure with Rackspace's support, focusing on Amazon Web Services (AWS) for improved efficiency and cost reduction. Key initiatives include an architectural review, implementation of DevOps, and a flexible cloud services model. This transformation aims to optimize operations and reduce costs while adhering to data privacy regulations.

Rackspace Technology (NASDAQ: RXT) will host a virtual event titled How Businesses are using AI and Machine Learning Today on December 9th at 10:00 am CT, concluding its Solve Strategy Series. Jeremy Howard, founder of fast.ai, will keynote on AI and ML capabilities, followed by a panel discussion with experts from Salesforce, AWS, and Rackspace. The event aims to address the accelerated need for AI/ML adoption due to the pandemic and discuss challenges faced by enterprises, such as skill shortages and technology understanding.

Rackspace Technology (NASDAQ: RXT) announced early tender results for its cash tender offer of outstanding 8.625% Senior Notes due 2024. As of the early tender deadline on November 30, 2020, approximately $259.1 million, or 49.91%, of the Notes were validly tendered. The offer, which expires on December 14, 2020, will include all validly tendered Notes. Citigroup Global Markets Inc. serves as dealer manager for the offer. Investors are urged to review the terms and make decisions independently regarding their Notes.

Rackspace Technology (NASDAQ: RXT) will host a virtual event titled How Businesses are using AI and Machine Learning Today on December 9, 2020, at 10:00 am CT. Keynote speaker Jeremy Howard, a prominent data scientist, will discuss the capabilities and constraints of AI and ML. The event aims to address the skills gap many enterprises face when implementing AI/ML technologies, particularly accelerated by the pandemic. It will feature insights from industry leaders from Salesforce and Rackspace, providing a roadmap for businesses to successfully adopt these technologies.

Rackspace Technology (NASDAQ: RXT) announced that CEO Kevin Jones and CFO Amar Maletira will present at the Credit Suisse 24th Annual Technology Conference on November 30, 2020. They will participate in a fireside chat around 11:00 AM ET and will be available for investor meetings. Rackspace Technology is recognized as a leading end-to-end multicloud technology services company, assisting clients in optimizing their cloud environments and adopting innovative technologies.