Rackspace Technology, Inc. Stock Price, News & Analysis

Rackspace Technology (NASDAQ: RXT) announced the launch of three new software-defined data center (SDDC) solutions: SDDC Enterprise, SDDC Business, and SDDC Flex. These offerings are designed to assist organizations in transitioning from internally managed data centers to the cloud. The new solutions aim to enhance private cloud strategies, enabling clients to optimize their cloud transformation efforts. Josh Prewitt, Chief Product Officer, highlighted the company's commitment to supporting customers in their private cloud journey, emphasizing tailored solutions across various industries, including healthcare and finance.

ConTemporary Locums, LLC, launched on January 18, 2023, is a national physician staffing company focused on addressing staffing challenges for hospitals and physicians. Founded by healthcare veteran Sigrid Boring, the company aims to enhance the physician staffing experience with a diverse candidate pool. The team includes experienced industry professionals and aims to implement innovative solutions to meet the increasing demand for temporary physician staffing. With a majority women-owned structure, it signifies a commitment to diversity in healthcare staffing.

Rackspace Technology (NASDAQ: RXT) has announced an expansion of its strategic partnership with Google Cloud aimed at accelerating digital transformation for customers. The relationship will enhance service capacity and includes the establishment of a dedicated Google Cloud Business Unit, focused on innovative solutions in data, AI, and application modernization. This partnership aims to develop a Rackspace Google Cloud Center of Excellence for training professionals and enhancing cloud capabilities. With public cloud spending projected to reach $591.8 billion in 2023, this collaboration positions Rackspace to capture significant market opportunities.

Rackspace Technology (NASDAQ: RXT) has announced the appointment of Brian Lillie as President of its Private Cloud business unit, effective January 23, 2023. This strategic move is part of Rackspace's new two-business unit operating model aimed at driving transformation and growth. CEO Amar Maletira expressed confidence in Lillie's extensive technology experience, highlighting the company's strong position in the private cloud market. Rackspace plans to accelerate growth in both its private and public cloud segments, leveraging its established brand and innovative technology solutions.

Rackspace Technology (NASDAQ: RXT) launched a new managed service, Modern Operations, on January 16, 2023. This offering provides a 24x7 unified support model for customers using AWS, Azure, and GCP, enabling them to streamline their cloud operations. The service aims to help businesses focus on core activities while managing the complexities of cloud environments. Benefits include continuous managed support, access to cloud expertise, enhanced cloud resiliency, and innovative cloud services. This initiative is part of Rackspace's commitment to supporting customers in their cloud journey.

Rackspace Technology (NASDAQ: RXT) has confirmed that a recent ransomware incident was swiftly contained and limited to its Hosted Exchange email business, which constitutes about 1% of its total annual revenue. The company engaged CrowdStrike for investigation and remediation, ensuring no other services were affected. Rackspace is transitioning impacted customers to Microsoft Office 365, with many already migrated. The firm maintains cybersecurity insurance and is confident in managing any financial implications.

Rackspace Technology (NASDAQ: RXT) reported a ransomware incident impacting its Hosted Exchange services, leading to disruptions for affected customers. The company has engaged a cyber defense firm to investigate, and immediate steps were taken to contain the issue. Rackspace believes the incident is isolated to its Hosted Exchange business, which generates approximately $30 million annually. While other services remain operational, the incident may result in revenue losses and additional costs as Rackspace works to migrate customers and enhance security measures.

Rackspace Technology (NASDAQ: RXT) announced that its cloud services division, Onica, has achieved the AWS Glue Service Delivery designation. This recognition validates Onica's ability to assist customers with data integration, utilizing AWS Glue for analytics and application development. The AWS Glue service enables customers to discover, prepare, and analyze data effectively. Onica's proprietary DataOps framework enhances data processing and accessibility for businesses, further cementing its position in the cloud technology landscape.

Rackspace Technology (NASDAQ: RXT) is showcasing its interactive AI demonstration, “Knights of AI”, at booth 244 during AWS re:Invent in Las Vegas from November 29 to December 1, 2022. This hands-on demonstration highlights the integration of serverless and AI/ML technologies. Celebrating 11 years as an AWS Premier Consulting Partner, Rackspace also has planned activities like GameDay and breakout sessions. Attendees can follow updates via LinkedIn and view the demonstration video online.