Rackspace Technology Named a Top 15 Sourcing Standout by ISG

Rhea-AI Summary

Rackspace Technology (NASDAQ: RXT) has achieved a notable milestone by being named a Top 15 Sourcing Standout by Information Services Group (ISG) for the 8th consecutive quarter. This recognition places Rackspace among the leading providers in the Breakthrough 15 category based on annual contract value won over the last 12 months. Additionally, the company introduced new offerings like the Elastic Engineering model and Rackspace Data Freedom, enhancing customer cloud investments. ISG's independent review positions Rackspace as a growing player in the multicloud services market, reinforcing its strategic importance to businesses.

Positive

• Named Top 15 Sourcing Standout by ISG for 8th consecutive quarter.
• Introduced new offerings, enhancing customer cloud investment.
• Ranked among leading providers based on annual contract value.

Negative

• None.

Rackspace Technology Recognized for Breakthrough 15 Leaderboard Positions for Global, Americas and EMEA and Sourcing Standout 8th Consecutive Quarter

SAN ANTONIO, March 01, 2023 (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, for the 8^th consecutive quarter.

Rackspace Technology was among the leading providers in the Breakthrough 15 category for the Global, Americas, and EMEA regions based on annual contract value (ACV) won over the last 12 months, according to the 4Q 2022 Global ISG Index™.

Now in its 80th 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 is honored to be recognized for the ISG Sourcing Standout award for the 8th consecutive quarter globally and in all regions. This is a testament that businesses’ multicloud approach are imperative to their overall strategy,” said Adrianna Bustamante, VP, Global Alliances and Partnerships. “It’s a privilege to carry this distinction from such a trusted advisory firm.”   

Rackspace Technology introduced timely new product and service offerings that help customers get the most out of their cloud investment. The Rackspace Technology Elastic Engineering model is gaining fast adoption and was expanded to several new areas. In addition, the company launched Rackspace Data Freedom, a new storage service based on robust Rackspace-developed technology that helps customers manage their costs across multiple cloud platforms.

Rackspace Technology’s inclusion in the ISG Index™ is based on data the company 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 ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 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.

About Rackspace Technology

Rackspace Technology is a leading end-to-end multi-cloud 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.

Media Contact
Natalie Silva
publicrelations@rackspace.com

FAQ

What recognition did Rackspace Technology receive in March 2023?

Rackspace Technology was named a Top 15 Sourcing Standout by ISG for the 8th consecutive quarter.

How many quarters has Rackspace Technology been recognized by ISG?

Rackspace Technology has been recognized for 8 consecutive quarters.

What new products did Rackspace Technology launch recently?

Rackspace Technology launched the Elastic Engineering model and Rackspace Data Freedom.

What regions did Rackspace Technology rank in for the ISG Index?

Rackspace Technology ranked across Global, Americas, and EMEA regions.

What is the significance of the ISG Index for Rackspace Technology?

The ISG Index provides independent quarterly reviews of the sourcing industry, highlighting Rackspace's position in the multicloud services market.