Rackspace Technology Named a Top 15 Sourcing Standout by ISG

Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) has been recognized as a Top 15 Sourcing Standout by Information Services Group (ISG), ranking among leading providers globally and across regions due to strong annual contract value (ACV) wins in the past year. This acknowledgment highlights Rackspace's double-digit revenue growth in 2020 and exceptional earnings leverage. The ISG Index™ serves as an authoritative source for market intelligence, indicating Rackspace's significant position in the multicloud services sector.

Positive

• Ranked as a Top 15 Sourcing Standout by ISG based on strong annual contract value wins.
• Reported double-digit revenue growth in 2020, indicating strong business performance.
• Earnings growth outpaced revenue growth in Q4 and for the full year, showcasing operational efficiency.

Negative

• None.

SAN ANTONIO, May 11, 2021 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT), a leading end-to-end multicloud technology solutions company, today announced it has been named a Top 15 Sourcing Standout by Information Services Group (ISG), a leading global technology research and advisory firm.

Rackspace Technology was among the leading providers in the Breakthrough 15 category globally and for the Americas, EMEA and Asia Pacific regions based on annual contract value (ACV) won over the last 12 months, according to the 1Q 2021 Global ISG Index™.

Now in its 74th consecutive quarter, the ISG Index™ provides an independent quarterly review of the latest sourcing industry data and trends. Each quarter it names the top 15 commercial providers in the Big 15 (revenues of more than $10 billion), Building 15 (revenues between $3 billion and $10 billion), Breakthrough 15 (revenues between $1 billion and $3 billion) and Booming 15 (revenues of less than $1 billion) categories in the Americas, EMEA and Asia Pacific regions. Each Top 15 category includes providers that compete in the traditional sourcing market, as well as those that compete in the as-a-service market, including IaaS and SaaS providers.

Rackspace Technology recognition by ISG is due to double-digit revenue growth in 2020 and strong earnings leverage as earnings growth outpaced revenue growth for both the fourth quarter and the full year.  

This new recognition follows the 2020 ISG Provider Lens™  Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions report for the U.S. which recognized Rackspace Technology as a Leader in Managed Hosting & Managed Services for midmarket. ISG Provider Lens Quadrant reports provide valuable insights to enterprise buyers on the strengths, competitive differentiators and unique selling points of leading service providers serving each market.

“Due to our people, partners, expertise and automation to help customers of all sizes optimize their multicloud journey combined with our fanatical customer experience, Rackspace Technology is extremely well positioned in the multicloud market,” said Lisa McLin, Rackspace Technology VP, Global Channel Chief. “In 2020 we made great progress towards becoming the leading pure play multicloud services and solutions company and set the stage for years of incremental revenue growth.”

Inclusion in the ISG Index™ is based on data Rackspace Technology submits to ISG each quarter.

“The ISG Index™ is recognized as the authoritative source for marketplace intelligence on the global technology and business services industry,” said Paul Reynolds, chief research officer of ISG. “Rackspace Technology continues to establish itself as a leading and growing player in the global market for multicloud services, based on its volume of business in relation to other industry providers.”

About Rackspace Technology
Rackspace Technology is a leading end-to-end multicloud technology services company. We can 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 ISG
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Media Contact
Natalie Silva
Rackspace Technology Corporate Communications
publicrelations@rackspace.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d78c3b3-225c-4db6-9cb9-a15a16791d15

FAQ

What recent recognition did Rackspace Technology (RXT) receive?

Rackspace Technology was named a Top 15 Sourcing Standout by Information Services Group (ISG).

Why was Rackspace Technology recognized by ISG?

Rackspace was recognized for strong annual contract value wins and double-digit revenue growth in 2020.

What does the ISG Index™ represent for Rackspace Technology?

The ISG Index™ provides an independent review of sourcing industry trends and positions Rackspace as a significant player in multicloud services.