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) in its 2Q 2021 Global ISG Index™. This distinction highlights Rackspace's performance in the Breakthrough 15 category, which ranks providers based on annual contract value won in the last year across various global regions. Rackspace's VP, Lisa McLin, emphasized the company's commitment to optimizing multicloud journeys and noted progress toward becoming the leading pure-play multicloud services provider.

Positive

• Ranked as a Top 15 Sourcing Standout by ISG, indicating strong market presence.
• Recognition based on significant annual contract value growth over the last 12 months.
• Positioned well in the multicloud market, enhancing potential for future revenue growth.

Negative

• None.

SAN ANTONIO, July 22, 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 for the Global, Americas and EMEA regions based on annual contract value (ACV) won over the last 12 months, according to the 2Q 2021 Global ISG Index™.

Now in its 75th 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.

“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 2021 we continue to make great progress towards becoming the leading pure-play multicloud services and solutions company and set the stage for years of incremental revenue growth.”

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 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.

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.

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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/983fb5a0-d648-468e-ae7f-41333a7d5157

FAQ

What does Rackspace Technology do?

Rackspace Technology is an end-to-end multicloud technology services company that designs, builds, and operates cloud environments for customers.

What is the significance of Rackspace being named a Top 15 Sourcing Standout?

Being named a Top 15 Sourcing Standout showcases Rackspace's strong performance and growth in the multicloud services market.

How does the ISG Index impact Rackspace Technology's stock RXT?

Inclusion in the ISG Index can enhance Rackspace's reputation and investor confidence, potentially positively influencing RXT's stock performance.

When was Rackspace recognized in the ISG Index?

Rackspace Technology's recognition occurred in the second quarter of 2021.

What does the ISG Index measure?

The ISG Index measures the performance of commercial providers in the sourcing market based on annual contract values.