Rackspace Technology, Inc. Stock Price, News & Analysis

Rackspace Technology (NASDAQ: RXT) has announced a partnership with Digivante to deliver AI-powered application testing for EMEA customers. This collaboration aims to enhance digital performance through automation, addressing long development times and improving testing efficiency. Using AI and Machine Learning, customers can expect faster software delivery, reduced test cycle times, and minimized manual testing errors. According to IDC, enterprise downtime can cost between $500K to $1M per hour, highlighting the importance of efficient application testing.

Rackspace Technology (NASDAQ: RXT) announced a successful collaboration with Auronix that achieved a 300% return on investment since implementation of Amazon Web Services (AWS). The partnership focused on optimizing infrastructure and enhancing security while moving products to the cloud. This collaboration not only doubled migration speed but also allowed Auronix to allocate more resources to application development. Rackspace now manages infrastructure monitoring and risk mitigation for Auronix, facilitating their digital transformation.

Rackspace Technology (NASDAQ: RXT) announced a partnership with AWS for its new Emissions Monitoring and Surveillance (EMS) solution. This initiative allows facility teams to monitor methane emissions effectively, enabling quicker responses to reduce carbon intensity and environmental impacts. The EMS integrates multiple data sources, streamlines emissions analysis, and accelerates leak detection and repairs. According to Mike Melanson, VP of Strategic Alliance Partnerships, this solution addresses climate change and enhances the company's industry expertise.

Great Hill Partners has appointed Suaad Sait as a Growth Partner, enhancing its investment team with his extensive experience in software and cloud technology. Mr. Sait has a history of driving significant growth, having generated over $15 billion in value in his career. Notably, he previously served at SolarWinds (NYSE: SWI) and Rackspace (NASDAQ: RXT), where he played pivotal roles in revenue growth. Great Hill Partners continues to focus on disruptive companies, aiming to provide strategic resources to enhance portfolio growth.

Rackspace Technology (NASDAQ: RXT) has partnered with Singapore-based Flextech to enhance its digital loyalty app, Flex Rewards. This app leverages advanced QR code and GPS technology for brick-and-mortar businesses and features an integrated marketplace for rewards. Flextech’s migration to Google Cloud Platform (GCP) was supported by Rackspace's expertise in Kubernetes and its Elastic Engineering model, enabling Flextech to focus on app development and user experience. As Flex Rewards expands, the tailored support from Rackspace will help optimize GCP features and managed services.

Rackspace Technology (RXT) announced that its Chief Product Officer, Josh Prewitt, will engage in a fireside chat with McGraw Hill Education's CTO, Andrew Lippert, at the Apex National Cloud & Cloud Security Transformation Virtual Summit on December 16, 2021. The event aims to address critical technology challenges facing CIOs from Fortune 500 and Global 2000 companies as they navigate cloud and security transformations. The collaboration features prominent industry leaders, including sponsors BitSight, Red Hat, and Intel.

Rackspace Technology (NASDAQ: RXT) announced significant advancements in its partnership with Amazon Web Services (AWS) through various customer transformations and new designations. The company achieved 15 AWS Partner competency designations and over 2,700 AWS Certifications. A highlighted success story includes Awaze, which reduced web session costs by 30% after migrating to AWS. Rackspace also received Amazon Quicksight Service Delivery designation and AWS Shield Advanced certification, bolstering its cloud security offerings. Additionally, Rackspace will participate in AWS re:Invent 2021 as a Gold Sponsor.

Rackspace Technology (NASDAQ: RXT) has been honored as the 2021 AWS Migration Partner of the Year (NSI) – US. This recognition highlights the company’s extensive expertise in assisting customers with their digital transformations and cloud migrations. With 15 AWS competencies and over 2,700 certifications, Rackspace plays a crucial role in the AWS Migration Acceleration Program, driving significant projects in the US. The company has previously received similar accolades for its services in Canada and the UK, reinforcing its reputation as a leader in multicloud technology solutions.