Welcome to our dedicated page for Rackspace Technology news (Ticker: RXT), a resource for investors and traders seeking the latest updates and insights on Rackspace Technology stock.
Rackspace Technology, Inc. (RXT) delivers cutting-edge managed cloud and IT solutions, empowering businesses to navigate complex digital transformations. This page provides real-time access to official announcements and strategic developments from the company.
Investors and industry professionals will find curated updates on RXT's operational milestones, including cloud infrastructure innovations, strategic partnerships, and financial performance. Track announcements about AI-driven service expansions, security enhancements, and open-source initiatives that shape the company's market leadership.
Content spans earnings disclosures, technology deployments, executive insights, and customer success stories. All materials are sourced directly from RXT to ensure accuracy and timeliness.
Bookmark this page for streamlined monitoring of Rackspace Technology's evolving role in hybrid cloud ecosystem optimization and enterprise IT modernization.
Rackspace Technology (NASDAQ: RXT) announces participation in the J.P. Morgan Ultimate Services Investor Conference on November 19, 2020. CEO Kevin Jones and CFO Dustin Semach will engage in a fireside chat at approximately 11:50 AM ET and are available for investor meetings. Rackspace is a premier multicloud technology solutions provider, facilitating cloud modernization and innovation for clients across various technology platforms. More details can be found on their Investor Relations website.
Rackspace Technology has priced its offering of $550 million aggregate principal amount of 5.375% Senior Notes due 2028 at an issue price of 100.000%. The closing is anticipated on December 1, 2020, pending customary conditions. The proceeds will refinance the 8.625% Senior Notes due 2024 and cover related expenses. The offering targets qualified institutional buyers and will not be registered under U.S. law. Rackspace Technology offers comprehensive multicloud technology services designed to optimize cloud environments for its clients.
Rackspace Technology has initiated a tender offer to buy back its outstanding 8.625% Senior Notes due 2024, totaling $519.23 million. The Tender Offer allows note holders to sell their notes for $1,045.00 each if tendered by November 30, 2020, including an early tender payment of $30.00. The offer expires on December 14, 2020. Accrued interest will also be paid. The offer is contingent on the success of a new note offering by the company. Citigroup Global Markets is the dealer manager for the offer.
Rackspace Technology announced a proposal to issue $550 million in senior notes due 2028, aiming to refinance existing 8.625% Senior Notes due 2024. The offering is subject to market conditions and will be targeted at qualified institutional buyers and non-U.S. investors. The net proceeds will be utilized for the refinancing and associated expenses. This private offering is exempt from the registration requirements of the Securities Act. The company emphasizes that this announcement is not an offer to buy or sell securities.
Rackspace Technology (NASDAQ: RXT) is enhancing Plus500's multicloud operations by migrating its services to Google Cloud while overseeing its existing VMware private cloud platform. The integration supports Plus500's online trading of over 2,000 securities and facilitates more than 3 million trades monthly. The collaboration also includes Rackspace's Managed Security services to ensure compliant data management. As Plus500 expands globally, the need for scalable solutions prompted the switch to Google Cloud.
Rackspace Technology (Nasdaq: RXT) reported a strong third quarter for 2020, with revenues reaching $682 million, up 13% year-over-year. The company achieved record bookings of $315 million, a 64% increase, while adjusted EBITDA was $191 million, maintaining a margin of 28%. Despite a net loss of $101 million or $(0.54) per diluted share, adjusted earnings per share rose 36% to $0.19. Rackspace is raising its full-year guidance, projecting growth in consolidated revenue and core revenue as multicloud adoption accelerates globally.
Rackspace Technology (NASDAQ: RXT) will co-sponsor the Cloud — The Enabler of Innovation virtual event alongside Amazon Web Services and the International Air Transport Association on November 12 at 10:00 am CT. CTO Tolga Tarhan will keynote, discussing the critical role of cloud technology in driving innovation through methodologies like DevOps and cloud-native approaches. A panel will follow, addressing prevalent misconceptions about cloud adoption and its future. The event highlights Rackspace's commitment to advancing cloud solutions for long-term growth.
Rackspace Technology (NASDAQ: RXT) announced a successful collaboration with AutoPets, enhancing their IoT cloud infrastructure for pet care. This partnership, leveraging AWS technology, improved the reliability and scalability of AutoPets' devices, including the Litter-Robot and the upcoming Feeder-Robot. Key achievements include updating IoT firmware in 45 days and optimizing AWS services, which reduced server costs and increased efficiency. AutoPets can now process messaging in batches, relieving previous infrastructure overloads while modernizing their mobile applications for a better user experience.
Rackspace Technology (NASDAQ: RXT) will release its Q3 2020 financial results on November 10, 2020, after market close. CEO Kevin Jones and CFO Dustin Semach will discuss the results in a conference call at 5:00 pm ET the same day. Interested participants can dial in or access the call via live webcast on the company's website. An audio replay will be available post-call until November 17, 2020. Rackspace Technology specializes in multicloud technology services, assisting clients with cloud environments across various platforms.
Rackspace Technology (NASDAQ: RXT) has successfully transitioned Basware's services to the Amazon Web Services (AWS) public cloud, enhancing security and operational efficiency. This collaboration, which began in the early 2000s, has resulted in a dramatic reduction in deployment times for Basware, allowing for multiple testing environments to operate concurrently and decreasing costs by leveraging AWS Spot Instances. Rackspace’s support has been crucial in securing enterprise discounts and ensuring a smooth transition, emphasizing a commitment to ongoing, value-focused customer service.
