Rackspace Technology Helps TrueData Achieve Cloud Cost Reduction on AWS
Rhea-AI Summary
Rackspace Technology (NASDAQ: RXT) has partnered with TrueData, a leader in independent omnichannel identity resolution, to achieve significant cloud cost reduction on AWS. Rackspace implemented Optimizer+ for TrueData, providing enhanced visibility into cloud spending and cost optimization strategies. The collaboration resulted in TrueData reducing its monthly cloud expenses by approximately 85% while expanding capabilities.
Key achievements include:
- Shifting to more cost-effective EC2 instances
- Optimizing AWS EBS and S3 storage
- Migrating from a third-party data warehouse to a fully AWS-based solution
- Improving resource use through Spot Instances
This partnership allows TrueData to focus on its core product offerings while Rackspace manages cloud cost optimization, positioning the company for future innovation and growth.
Positive
- Rackspace helped TrueData reduce monthly cloud expenses by approximately 85%
- TrueData expanded capabilities while reducing costs
- Implemented cost-saving strategies including optimizing EC2 instances, EBS, and S3 storage
- Migrated from third-party data warehouse to fully AWS-based solution, eliminating associated expenses
- Improved resource utilization by shifting more workloads to Spot Instances
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, RXT declined 9.38%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Rackspace achieves strategic cost-savings for TrueData, resulting in improved business outcomes
SAN ANTONIO, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, hybrid, multicloud, and AI solutions company, today announced it is working with TrueData, the leader in providing first-party data for advertisers, publishers, and AdTech firms, to achieve cloud and data storage cost savings that can be invested in innovative new services for its clients.
Founded in 2013, TrueData is a leader in independent omnichannel identity resolution. The company connects individuals and households to digital devices and empowers businesses to enhance and leverage first-party data for improved business outcomes.
Focused on profitability while maintaining innovation, TrueData quickly identified the need for better visibility into cloud spending and cost optimization as growth brought increasing infrastructure costs. Substantial costs from a third-party data warehouse added an obstacle to cost savings, so TrueData partnered with Rackspace Technology to identify opportunities to optimize cloud cost savings.
Rackspace Technology implemented Optimizer+ for TrueData, providing the company with enhanced visibility into its cloud spending through an intuitive interface, monthly cost optimization reviews, and proactive recommendations from the team. In addition, the Rackspace Technology team worked closely with TrueData to implement various cost-saving strategies by analyzing the company’s Amazon Elastic Compute Cloud (EC2) instance usage and recommended a shift toward more cost-effective options like cleaning up their AWS Elastic Block Store (EBS). The Rackspace Technology team reviewed and optimized data storage policies across Amazon Simple Storage Service (S3) buckets and assisted in migrating from the third-party data warehouse to a fully AWS-based solution.
"We've evolved beyond the initial startup phase and are now focused on fast, accurate, and sustainable deployments optimized for long-term product success. Our time and resources need to be focused on what matters, on the core product line offering, instead of inefficient side work on financial User Interface Design (UI) development," said Nader Salehi, VP and Head of Engineering at TrueData. "Our Rackspace partnership lets us leave the intricacies of cloud cost management to the experts. The ongoing support of the Rackspace team helped ensure that TrueData is continually optimizing its cloud usage and costs. Having a partner that comes up with recommendations without me asking is invaluable.”
Rackspace and TrueData Achieved Dramatic Results Together
TrueData dramatically reduced its monthly cloud expenses by approximately
“Looking to the future, TrueData plans to leverage its optimized cloud infrastructure and ongoing partnership with Rackspace to fuel further innovation," says Donny Cross, Rackspace Technology Vice President, Strategic Operations. “Rackspace is about putting our customers and their needs first and driving
To read more about the Rackspace Technology TrueData solution, click here.
About Rackspace Technology
Rackspace Technology is a leading end-to-end hybrid, multicloud, and AI technology services company. We design, build, and operate our customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies.
About TrueData
TrueData is a leader in independent omnichannel identity resolution, offering data enrichment and identity resolution solutions to clients focused on interoperable addressability at scale. TrueData’s identity solutions connect people & households to their digital devices. As a trusted partner of the largest enterprise data companies, AdTech platforms, and publishers worldwide, Truedata continues to build privacy-centric solutions that help clients own their data strategy and build sustainable products using the most advanced datasets.
Media Contact: Natalie Silva, publicrelations@rackspace.com
FAQ
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