Rackspace Goes All in On Multicloud, Launches New Solutions and Renames Company
June 8, 2020
SAN ANTONIO – June 8, 2020— Following a series of acquisitions and strategic partnerships, Rackspace today announced plans to provide comprehensive solutions across the entire technology transformation lifecycle.
These four solution areas, focused on cloud optimization, security, cloud native enablement and data modernization, bring to market the company’s significant multicloud expertise under the new name Rackspace Technology.
These efforts are a culmination of the company’s massive transformation over the past year, led by CEO Kevin Jones.
“Our technical acumen with the world’s leading cloud technologies – across apps, data and security – empowers our customers to build new revenue streams, increase efficiency, and create incredible experiences,” said Kevin Jones, CEO, Rackspace Technology. “Our new name, mission and multicloud solutions better represent the full value we bring to market. Our mission is simple. Embrace technology. Empower customers. Deliver the future.”
Rackspace Technology’s new multicloud solutions empower customers to address this challenge and meet new demands. The new solutions provide customers with the following benefits:
- Cloud Optimization empowers customers to improve costs and performance for a changing market while delivering the experience their end customers demand.
- Cloud Security provides customers with expert security and compliance services for the enterprise and the cloud.
- Cloud Native Enablement accelerates multicloud transformation with cloud native application, data, and security built-in a DevOps culture.
- Data Modernization helps customers make predictive, data-driven decisions that accelerate innovation and increase ROI leveraging modern data analytics.
“Our first year of savings with Rackspace was in the 40-45% range versus our historical run costs. As we’ve continued to optimize, our second and third year of savings will be more than 60%,” said Scott Strickland, EVP & CIO, Wyndham Hotels & Resorts. “Rackspace has been a tremendous partner, and their strategic shift to double down on new multicloud solutions addresses our long-term business needs.”
About Rackspace Technology
Rackspace Technology® (NASDAQ: RXT) is the operator of the full enterprise AI stack from governed private cloud to AI inference and agents in production. With an Outcomes-as-a-Service model built on secure infrastructure, data foundations, and forward-deployed engineering, Rackspace delivers business results for regulated and mission-critical industries where governance, sovereignty, and uptime are non-negotiable. Learn more at
www.rackspace.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements generally relate to future events and can be identified by terminology such as “believe,” “may,” “will,” “potentially,” “estimate,” “continues,” “anticipate,” “intend,”
“could,” “would,” “project,” “plan,” “expect,” “is putting,” “designed to,” or the negative of such terms or other similar expressions, although not all forward-looking statements
contain these words.
These statements include, but are not limited to, Rackspace Technology’s relationship with NVIDIA and the NVIDIA Cloud Partner Program, its Enterprise AI Cloud strategy,
the anticipated capabilities, benefits and timing of its Institutional Sovereign Pod architecture, Rackspace’s outlook on the AI industry and its ability to deliver, operate, and
scale AI infrastructure and solutions for regulated, institutional and sovereign enterprises. Forward-looking statements are based on current expectations and assumptions
and are subject to risks and uncertainties that could cause actual results to differ materially, including, without limitation: Rackspace's ability to realize the anticipated
benefits of its relationship with NVIDIA and the NCP program; the availability, cost, and timing of deployment of NVIDIA and other third-party technology; Rackspace's ability
to develop, market, and scale the Institutional Sovereign Pod and related offerings on the anticipated timeline or at all; market acceptance of and demand for sovereign and
governed AI infrastructure solutions; competition in the AI infrastructure and cloud services markets; capital expenditure requirements associated with AI infrastructure
buildout; availability of financing for the AI infrastructure buildout on terms acceptable to Rackspace; Rackspace’s reliance on a limited number of technology partners,
including NVIDIA; cybersecurity, data privacy, and regulatory compliance risks associated with serving regulated and sovereign customers; general economic and industry
conditions; and other risks and uncertainties described in Rackspace's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form
10-K and Quarterly Reports on Form 10-Q. Rackspace undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law.
