Associated tags: Rackspace Technology, SAN, Cloud, AI
Locations: TEXAS, NORTH AMERICA, ASIA, AMERICAS, MIDDLE EAST, JAPAN, AUSTRALIA, UK, LONDON, ARIZONA, WASHINGTON, SI, AURORA, BA, ACOSTA, PENNSYLVANIA, SAN ANTONIO, TX, US, ENGLAND, BT, HA, EUROPE
Amar Maletira, Chief Executive Officer, stated, “I’m pleased to announce that first quarter 2024 results exceeded the high-end of guidance for revenue, operating profit, and EPS.
Key Points:
- Amar Maletira, Chief Executive Officer, stated, “I’m pleased to announce that first quarter 2024 results exceeded the high-end of guidance for revenue, operating profit, and EPS.
- Loss from operations was $(653) million in the first quarter of 2024, compared to loss from operations of $(581) million in the first quarter of 2023.
- Non-GAAP Operating Profit was $16 million in the first quarter of 2024, a decrease of 68% compared to $51 million in the first quarter of 2023.
- Capital expenditures were $46 million in the first quarter of 2024, compared to $72 million in the first quarter of 2023.
Retrieved on:
Wednesday, April 24, 2024
SAN ANTONIO, April 24, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT)— the leading end-to-end, hybrid multicloud and AI technology solutions company, today announced that it will release its first quarter 2024 financial results after the market closes on Thursday, May 9, 2024.
Key Points:
- SAN ANTONIO, April 24, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology ® (NASDAQ: RXT)— the leading end-to-end, hybrid multicloud and AI technology solutions company, today announced that it will release its first quarter 2024 financial results after the market closes on Thursday, May 9, 2024.
- Amar Maletira, Chief Executive Officer, and Mark Marino, Chief Financial Officer, will host a conference call on the day of the release (May 9, 2024) at 5:00 PM ET to discuss the Company’s financial results.
- To obtain a dial-in number, please pre-register at the following link: https://register.vevent.com/register/BI948ffa0430e74a9d85c144912294218d .
- Registrants will receive dial-in information and a PIN allowing them to access the live call.
As part of this partnership, FAIR is the exclusive presenting partner of the 2024 OhioX Ohio AI Roundtable bringing together industry leaders and experts to discuss the opportunities and challenges of AI adoption.
Key Points:
- As part of this partnership, FAIR is the exclusive presenting partner of the 2024 OhioX Ohio AI Roundtable bringing together industry leaders and experts to discuss the opportunities and challenges of AI adoption.
- "We are excited to partner with FAIR to advance the responsible adoption of AI in Ohio," said Chris Berry, President, and CEO of OhioX.
- To support the responsible adoption of AI in Ohio, OhioX and FAIR will collaborate on the creation of a "State of AI in Ohio" survey as part of OhioX Insights.
- "This partnership aligns with FAIR's mission to promote Responsible AI practices and will help ensure that AI technologies benefit all Ohioans."
SAN ANTONIO, April 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI technology solutions company, today announced the final results of the previously announced offer by its indirect subsidiary Rackspace Finance, LLC (the “New Issuer”), to eligible holders in respect of any and all of the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by its indirect subsidiary Rackspace Technology Global, Inc., to (i) (A) exchange certain of those Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have purchased for cancellation certain of those Existing Secured Notes by the New Issuer for cash (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, together with the Exchange Offer, the “Offers”) new senior secured first lien first out term loans of the New Issuer, in each case, subject to the terms and conditions of the offering memorandum dated March 14, 2024 (as amended by the Company’s press release dated March 29, 2024, the “Offering Memorandum”).
Key Points:
- SAN ANTONIO, April 12, 2024 (GLOBE NEWSWIRE) -- Rackspace Technology® (NASDAQ: RXT) (“Rackspace” or the “Company”), a leading end-to-end hybrid, multicloud, and AI technology solutions company, today announced the final results of the previously announced offer by its indirect subsidiary Rackspace Finance, LLC (the “New Issuer”), to eligible holders in respect of any and all of the 3.50% First-Priority Senior Secured Notes due 2028 (the “Existing Secured Notes”) issued by its indirect subsidiary Rackspace Technology Global, Inc., to (i) (A) exchange certain of those Existing Secured Notes for new 3.50% FLSO Senior Secured Notes due 2028 (the “Exchange Notes”) issued by the New Issuer and (B) have purchased for cancellation certain of those Existing Secured Notes by the New Issuer for cash (collectively, the “Exchange Offer”), and (ii) fund (the “Funding Offer” and, together with the Exchange Offer, the “Offers”) new senior secured first lien first out term loans of the New Issuer, in each case, subject to the terms and conditions of the offering memorandum dated March 14, 2024 (as amended by the Company’s press release dated March 29, 2024, the “Offering Memorandum”).
- The Exchange Offer expired at 5:00 p.m., New York City time, on April 12, 2024 (the “Expiration Time”).
- As of the Expiration Time, the New Issuer received from eligible holders valid and unwithdrawn tenders, as reported by Epiq Corporate Restructuring, LLC (the “Transaction Agent” or “Epiq”), the transaction agent, representing $138,427,000 in aggregate principal amount of Existing Secured Notes (or 75.9% of the Existing Secured Notes outstanding prior to the commencement of the Exchange Offer), which includes an additional $5,156,000 in aggregate principal amount of the Existing Secured Notes validly tendered (and not validly withdrawn) since March 28, 2024.
- The New Issuer expects to settle the Exchange Offer with respect to such additional Existing Secured Notes on April 16, 2024.
Cloud,
Microsoft,
Synthetic media,
Azure,
SMC,
ESG,
Rackspace Technology,
Microsoft Power BI,
FAIR,
Renewable energy,
Region,
EDL,
GLP,
Generative,
Corporation,
Sales A Generative AI-enabled intelligent system was developed by integrating Microsoft Azure OpenAI Service.
Key Points:
- A Generative AI-enabled intelligent system was developed by integrating Microsoft Azure OpenAI Service.
- The system is capable of deep diving into its data to answer complex business inquiries.
- GLP is currently rolling out the chatbot to the rest of the organization," said Miao Song, Global Chief Information Officer, GLP.
- We are committed to supporting organisations such as GLP in their journey to leverage Generative AI solutions responsibly and securely.
Cloud,
Open source,
Google Cloud,
Learning,
Partnership,
SAN,
Implementation,
SAP,
Foundry,
ISG,
AI,
Infrastructure,
FAIR,
Analytics,
Security,
Data warehouse,
Mandalay Bay,
Network equipment provider In addition, Shefali Victors, Senior Cloud Practice Architect at Rackspace Technology, will lead a Theater Session, "Build a Secure Architecture Design on Google Cloud" on Tuesday, April 9.
Key Points:
- In addition, Shefali Victors, Senior Cloud Practice Architect at Rackspace Technology, will lead a Theater Session, "Build a Secure Architecture Design on Google Cloud" on Tuesday, April 9.
- Rackspace top talent backed by recognized Google Cloud expertise:
ISG Provider Lens™ 2023 Leader in Managed Services and Implementation and Integration Services on Google Cloud.
- Rackspace holds three Google Cloud Specializations for Infrastructure - Services, Cloud Migration - Services, and SAP on Google Cloud – Services.
- With our cutting-edge Google Cloud and AI solutions, Rackspace helps customers cut costs, boost efficiency, and unlock data insights.
Letter,
PDF,
Offers,
Table (information),
Exchange,
CUSIP,
Sale,
Regulation,
Note,
Exchange offer,
Late,
Security (finance) Holders of Existing Secured Notes that are accepted for exchange pursuant to the Exchange Offer will be entitled to receive accrued and unpaid interest in cash on the Existing Secured Notes exchanged for Exchange Notes up to, but excluding, March 12, 2024.
Key Points:
- Holders of Existing Secured Notes that are accepted for exchange pursuant to the Exchange Offer will be entitled to receive accrued and unpaid interest in cash on the Existing Secured Notes exchanged for Exchange Notes up to, but excluding, March 12, 2024.
- Interest on the Exchange Notes will accrue from March 12, 2024, with the first interest payment occurring on August 15, 2024.
- Consummation of the Exchange Offer is conditioned upon the satisfaction or waiver of the conditions set forth in the Offering Memorandum.
- persons” as defined in Rule 902 under the Securities Act and in compliance with Regulation S under the Securities Act.
Letter,
PDF,
Documentation,
Offers,
Table (information),
Exchange,
CUSIP,
Sale,
Regulation,
Note,
Expiration,
Exchange offer,
Issuer,
Late,
Security (finance) (2) Holders of Existing Secured Notes that are accepted for exchange pursuant to the Exchange Offer will be entitled to receive accrued and unpaid interest in cash on the Existing Secured Notes exchanged for Exchange Notes up to, but excluding, March 12, 2024.
Key Points:
- (2) Holders of Existing Secured Notes that are accepted for exchange pursuant to the Exchange Offer will be entitled to receive accrued and unpaid interest in cash on the Existing Secured Notes exchanged for Exchange Notes up to, but excluding, March 12, 2024.
- Interest on the Exchange Notes will accrue from March 12, 2024, with the first interest payment occurring on August 15, 2024.
- As of 5:00 p.m., New York City time, on March 28, 2024, the right to withdraw tenders of Existing Secured Notes expired.
- Eligible holders who tender (and do not validly withdraw) all of their Existing Secured Notes after the Early Participation Time but at or prior to the Expiration Time, and their Existing Secured Notes are accepted, will receive the Late Exchange Consideration described above.
Retrieved on:
Wednesday, March 27, 2024
British,
Government,
Environment,
Partnership,
Pods,
Law enforcement,
Rackspace Technology,
NHS,
AI,
Private sector,
Pod,
Disaster recovery,
Evergreen,
Public sector,
NHS England,
Police The offering provides end-to-end, digitally sovereign cloud services for the UK public sector and other regulated industries.
Key Points:
- The offering provides end-to-end, digitally sovereign cloud services for the UK public sector and other regulated industries.
- Rackspace UK Sovereign Services prioritises customer data security aligned with the recommendations of the UK National Cyber Security Centre & NHS England amongst other UK regulatory bodies.
- This truly digital Sovereign offering allows for the UK public sector to achieve cost savings and compliance all through a single provider, without compromising on security or performance,” said Rick Martire, General Manager for Sovereign Services, UK at Rackspace Technology.
- Rackspace UK Sovereign Services key features include:
Fully managed end-to-end solution with a pre-built blueprint, anti-malware protection, vulnerability scanning, performance monitoring and system patching included as standard.
Organization,
Risk,
SAN,
Rackspace Technology,
Lead,
Ethics,
Ethics of artificial intelligence,
AWS,
Research report,
Investment,
Cloud computing,
FAIR,
Sustainability,
Machine learning,
Marketing,
Government,
Artificial intelligence,
Medical device The research report results also revealed that nearly one-third of respondents have successfully integrated AI into their business operations, highlighting AI’s exceptionally rapid adoption and evolution.
Key Points:
- The research report results also revealed that nearly one-third of respondents have successfully integrated AI into their business operations, highlighting AI’s exceptionally rapid adoption and evolution.
- Companies are also seeing internal benefits, with 29% saying they have fully integrated AI and 31% at the early stages.
- Instead, companies across the board have jumped in with both feet,” said Srini Koushik, President AI, Technology, and Sustainability, Rackspace Technology.
- Commissioned by Rackspace Technology, the survey was conducted by Coleman Parkes Research in January and February 2024.
