Rackspace Technology, Inc. RXT

Company Overview

Rackspace Technology, Inc. is a U.S.-based multicloud technology services company that provides cloud computing, application, data, security, and infrastructure solutions to enterprise customers. The company operates primarily in the information technology services and cloud infrastructure sectors, supporting organizations that use public, private, hybrid, and multicloud environments. Rackspace generates revenue through managed services, professional services, cloud optimization, infrastructure management, cybersecurity offerings, and application modernization engagements. Its customer base spans industries including healthcare, financial services, retail, manufacturing, public sector, and technology.

The company traces its origins to 1998, when it was founded as Rackspace Hosting. Rackspace became known for its managed hosting and customer support model branded as “Fanatical Experience.” Over time, the company shifted from traditional hosting toward multicloud and managed cloud services as enterprise workloads migrated to platforms such as Amazon Web Services, Microsoft Azure, and Google Cloud. Rackspace was taken private in 2016 by affiliates of Apollo Global Management and later returned to public markets in 2020 through an initial public offering. The company positions itself as a vendor-neutral multicloud services provider focused on helping enterprises design, migrate, secure, and operate cloud environments across multiple platforms.