Rackspace Technology, Inc. - RXT STOCK NEWS

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.

Rackspace Technology (NASDAQ: RXT) has announced enhanced Internet of Things (IoT) professional services, designed to assist enterprises throughout their IoT journey. These services aim to help businesses develop competitive products, boost operational efficiency, and generate new revenue streams. With over 25 billion connected devices anticipated by 2021, Rackspace’s solutions promise to reduce time and costs associated with launching new initiatives. Key offerings include IoT Accelerator, IoT Production Solutions, and IoT Cloud, all leveraging AWS technologies to accelerate deployment and increase efficiency.

Rackspace Technology (RXT) preannounces a strong Q3 2020, expecting 13-14% year-over-year revenue growth and double-digit Pro-Forma Core Revenue growth. New CFO Amar Maletira, with a proven track record, will join effective November 23. The company anticipates Adjusted EPS of $0.17-$0.19 and Adjusted EBITDA of $189-$191 million. Full-year guidance remains firm, targeting 9-10% revenue growth and 12.5-13.5% Core Revenue growth in constant currency.

Rackspace Technology (NASDAQ: RXT) has announced its management of Relay42’s AWS IT infrastructure, significantly enhancing the AI-driven data business by delivering up to 500,000 personalized data events per second. This collaboration allows Relay42 to improve its data marketing components—speed, latency, and security—vital for its global expansion plans aimed at doubling its European and Asian business in 2021. Moreover, Rackspace optimized Relay42's cloud spend, achieving monthly savings of $8,000 without performance compromise.

Rackspace Technology (NASDAQ: RXT) has announced significant IT transformations for customers including Humber College, Envizi, and Invotra leveraging Amazon Web Services (AWS). Humber College rapidly implemented a production solution on AWS in 10 days, enhancing student access to software. Envizi transitioned smoothly to AWS, achieving operational benefits and cost savings. Invotra managed extensive user data with Rackspace's scalable solution. Rackspace highlights its partnership with AWS, achieving 14 AWS Competency designations and 1,600 AWS Certifications, underscoring its commitment to customer success.

Rackspace Technology (NASDAQ: RXT) will co-sponsor a virtual event titled The New Cybersecurity Landscape on October 7, 2020. This event aims to address emerging security threats exacerbated by the COVID-19 pandemic. Keynote speaker Keren Elazari will discuss evolving security challenges. The global data explosion poses new security threats, predicted to drive cybersecurity spending to $133.7 billion in 2022. The event features a panel discussion with industry experts, including Michael Schofield from Rackspace Technology. Registration is available on their website.

Rackspace Technology (NASDAQ: RXT) announced an expansion of its strategic alliance with VMware to enhance managed services across VMware-based multicloud solutions. This includes support for Azure VMware Solution, Google Cloud VMware Engine, and VMware Cloud on Dell EMC. Key benefits include improved customer migration to the cloud and the establishment of a Cloud Center of Excellence. Rackspace Technology aims to provide consistent multicloud infrastructure, facilitating easier workload movement for clients. The enhanced offerings are designed to support organizations in their digital transformation efforts.

Rackspace Technology™ (NASDAQ: RXT) has expanded its strategic alliance with VMware by enhancing managed services across VMware multicloud solutions, including Azure VMware Solution and Google Cloud VMware Engine. This expansion aims to provide customers with a broader choice for integrating VMware-based private clouds into their multicloud solutions. Key benefits include accelerated cloud migration, reduced operational burdens, and enhanced support for digital transformations and disaster recovery.

Rackspace Technology (NASDAQ: RXT) announced a partnership with Dell Technologies to enhance its multicloud solutions. The collaboration expands the Rackspace Private Cloud powered by VMware portfolio with the Dell Technologies Cloud Platform, providing a streamlined pathway to hybrid cloud. This solution offers significant cost savings, with up to 52% lower operational costs and an 88% reduction in unplanned downtime. The partnership aims to address key business transformation challenges while promoting consistent operations across multiple cloud environments.