Rackspace Technology, Inc. Stock Price, News & Analysis

Rackspace Technology (NASDAQ: RXT) has been named the CloudHealth by VMware Global Partner of the Year for 2020, showcasing its excellence among numerous global cloud solution providers. This accolade highlights Rackspace's technical expertise, innovation, and customer value. By integrating CloudHealth into its offerings across major cloud platforms like AWS, Google Cloud, and Microsoft, Rackspace aids clients in optimizing cloud spending and management. The company aims to lower infrastructure costs and enhance visibility for its customers, reinforcing its commitment to cloud management solutions.

Rackspace Technology (NASDAQ: RXT) has announced a successful collaboration with HiMed Solutions, implementing a cloud-based medical records system in Colombia. This system enhances decision-making for healthcare workers by providing quick and secure access to patient records while ensuring compliance. The migration to a VMware-based private cloud has improved uptime, response times, and reduced administrative tasks for healthcare providers. Rackspace's support has helped HiMed focus on improving patient care, supported by enhanced security measures for patient data.

Rackspace Technology (NASDAQ: RXT) has been designated as an Oracle Cloud Solutions Provider (CSP), recognizing its expertise in Oracle applications and technology. This certification allows Rackspace to resell Oracle’s Universal Credits for Cloud Infrastructure and migrate on-premise applications to Oracle Cloud Infrastructure (OCI). Boasting over 300 certified Oracle experts and 600+ completed projects, Rackspace aims to enhance customer experiences and accelerate their cloud adoption. This partnership solidifies Rackspace's role in providing flexible, scalable Oracle solutions in a cloud-first world.

Rackspace Technology (NASDAQ: RXT) announced its successful collaboration with Microcomputer Consulting Group (MCG) to enhance remote work security during the pandemic. The partnership focused on migrating MCG's clients to Microsoft 365, improving email security and access to collaboration tools. With nearly 2,000 email accounts, MCG faced significant phishing and ransomware threats. The transition was executed swiftly, with minimal downtime, meeting urgent remote work needs. This strategic move positions MCG for future success as they adopt new technologies in a changing work environment.

Rackspace Technology (NASDAQ: RXT) announced the successful transition of Tessitura Network's software hosting from a legacy system to AWS's managed hosting. This collaboration enables Tessitura, which serves cultural organizations, to focus on app development and innovation by leveraging Rackspace's flexible Public Cloud Service Blocks. With enhanced scalability and security, Tessitura can now build connections with its audience more effectively. Rackspace's support allows Tessitura to maintain a competitive edge in the arts and culture sector.

Rackspace Technology (NASDAQ: RXT) announced a pricing of $550 million in 3.50% First-Priority Senior Secured Notes due 2028, with an issue price of 100.000%. The offering is set to close on February 9, 2021, pending standard conditions. The net proceeds will be allocated to repay existing term loans, cover related fees, and support general corporate activities. The Notes are targeted at qualified institutional buyers and are not registered under the Securities Act. This announcement highlights Rackspace's ongoing financial strategies and commitment to managing its debt effectively.

Rackspace Technology (NASDAQ: RXT) has released findings from a global survey indicating that a significant majority of organizations are struggling to implement effective artificial intelligence (AI) and machine learning (ML) initiatives. Conducted by Coleman Parkes Research, the survey highlights that only 17% of organizations report mature AI/ML capabilities. Key challenges include lack of internal expertise and data quality, leading to over one-third of AI R&D projects being abandoned. However, organizations implementing AI/ML successfully report increased productivity and customer satisfaction.

Rackspace Technology (NASDAQ: RXT) has been selected by GEANT to provide Amazon Web Services (AWS) solutions to European researchers through the OCRE procurement framework. This initiative aims to enhance the digital transformation of research institutions and universities in Europe, which have faced challenges due to a lack of procurement frameworks and technical skills. With 14 AWS competencies and 1,600 certifications, Rackspace is positioned to support organizations in 38 European countries, facilitating their journey toward cloud-based IT environments.

Rackspace Technology (NASDAQ: RXT) has appointed Rodrigo Martineli as Vice President and General Manager for Latin America, effective January 1, 2021. This strategic move aligns with their broader investment in the region, including new offices in Colombia and representation in Chile. Martineli aims to drive innovation for over 1,000 existing and potential customers across various sectors such as financial services and retail, enhancing their cloud value. His extensive experience in global sales and partnerships is expected to strengthen Rackspace's market position in LATAM.