Rackspace Technology provides managed cloud services with a focus on multicloud solutions. It helps businesses adopt and transform their IT infrastructure across multiple cloud platforms (including AWS, Google Cloud, and Microsoft Azure) by handling cloud management, data services, and security. Its offerings include Rackspace Elastic Engineering, which gives on-demand engineering and support to help clients innovate and scale operations, with a particular emphasis on VMware environments. The company earns through subscription-based cloud management, consulting, and programs like Referral and Private Equity Partners. Unlike firms that specialize in a single cloud or DIY tooling, Rackspace combines multicloud management, on-demand engineering, data modernization, and security across multiple clouds to simplify IT operations for customers. Its goal is to enable organizations to optimize and secure their cloud environments so they can focus on their core business activities.
Company Size
5,001-10,000
Company Stage
IPO
Headquarters
San Antonio, Texas
Founded
1998
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Saudi stocks fall as Tadawul Index drops 0.96%. Saudi Arabia's main stock market closed lower on Monday, with the Tadawul All Share Index falling 102.66 points, or 0.96 percent, to 10,579.18 as selling pressure weighed on a broad range of shares. Trading on the main market reached about 191.2 million shares, with transactions valued at nearly SR3.48 billion ($926.5 million). A total of 52 stocks advanced, while 208 declined. The parallel market Nomu also ended lower, losing 88.99 points, or 0.41 percent, to close at 21,460.22. Of the companies traded, 25 rose and 29 fell. The MSCI Tadawul 30 Index declined 12.94 points, or 0.9 percent, to 1,425.47. Al Kathiri Holding Co. was the strongest performer on the main market, with its share price climbing 6.48 percent to SR1.15. Salama Cooperative Insurance Co. gained 6.34 percent to SR7.55, while Alramz Real Estate Co. rose 3.76 percent to SR55.25. Saudi Fisheries Co. recorded the biggest decline, falling 7.86 percent to SR51.60. Rasan Information Technology Co. dropped 5.35 percent to SR131, while Arabian Co. for Agricultural and Industrial Investment fell 5.20 percent to SR21.50. Cenomi Centers shareholders approved a SR426.6 million capital increase through the capitalization of retained earnings at an extraordinary general assembly meeting. The company said it will issue 42.66 million new shares, including 39.58 million bonus shares and 3.08 million shares under its Employee Share Program. The increase will raise Cenomi Centers' capital by 8.98 percent, from SR4.75 billion to SR5.18 billion. Eligible shareholders will receive one bonus share for every 12 shares held. The proposal received 99.12 percent of votes. Cenomi Centers shares fell 2.48 percent to SR14.16. Specialized Medical Co. signed a SR148.4 million contract, excluding VAT, with Maharat Al Injaz Co. for foundation, construction and structural works at its SMC3 Hospital in Riyadh. The Northern Ring Road facility is planned to have 296 beds and 200 outpatient clinics. Construction is expected to take 360 calendar days from site handover, with completion targeted for the fourth quarter of 2028. Saudi Steel Pipe Co. received a purchase order worth about SR72.8 million from Saudi Aramco to supply oil and gas steel pipes. The order will run for up to 12 months, with its financial impact expected in the second half of fiscal 2027. Edarat Communication and Information Technology Co. signed a SR28.3 million, 42-month contract with Rackspace Arabia for managed VMware services. The agreement begins on Oct. 1, 2026, and runs through March 31, 2030. Marketing Home Group for Trading Co. announced SR12 million in cash dividends for the second quarter of fiscal 2026, equal to SR0.75 per share. The eligibility date is Oct. 5, with payments scheduled for Oct. 19. Pan Gulf Marketing Co. also issued a correction, saying Emirates NBD, rather than Saudi Awwal Bank, is the financing entity for its SR70 million Shariah-compliant bank facility. September 28, 2026
INVESTOR ALERT: Pomerantz law Firm reminds investors with losses on their investment in Rackspace Technology, Inc. of class action lawsuit and upcoming deadlines - RXT. Sep 24, 2026, 17:39 ET NEW YORK, Sept. 24, 2026 /PRNewswire/ - Pomerantz LLP announces that a class action lawsuit has been filed against Rackspace Technology, Inc. ("Rackspace" or the "Company") (NASDAQ: RXT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether Rackspace and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. You have until September 28, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Rackspace securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com. On July 9, 2026, Rackspace published second quarter 2026 financial results and "a strategic and financial update on its transition to becoming the operator of the full enterprise AI stack." The Company revealed that its AI investments would require a significant re-prioritization of resources and, as a result, reduced its full year 2026 revenue guidance by $150 million. The Company also cut its full year 2026 Private Cloud revenue outlook by $25 million. Finally, the Company explained that "[l]ower near-term margins reflect upfront growth investment and restructuring, ahead of AI revenue ramping." On this news, Rackspace's stock price fell $2.21 per share, or 33.6%, to close at $4.37 per share on July 9, 2026. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes. SOURCE Pomerantz LLP
Bridgehead IT welcomes Greg Stroike as Senior Vice President of Sales and marketing. Veteran technology sales leader joins the San Antonio firm to help scale its sales organization, deepen client relationships, and support continued growth. SAN ANTONIO, September 15, 2026 (Newswire.com) - Bridgehead IT, a San Antonio-based provider of managed IT, cybersecurity, cloud, and technology strategy solutions, today announced that Greg Stroike has joined the company as Senior Vice President of Sales. Stroike brings more than a decade of technology sales leadership experience and will help lead and scale Bridgehead's sales organization as the company continues its growth. Before joining Bridgehead IT, Stroike spent 10 years in a variety of sales leadership roles at Rackspace Technology. His background spans IT transformation, managed hybrid cloud, security, mission-critical hosting, and application management services, along with sales operations, deal governance, and the management of highly complex, large-value deals in the enterprise space. He has built his expertise across Fortune 100 companies, startups, and high-growth private organizations where both growth and scalability were paramount. In his new role, Stroike will focus on building and developing the sales team, strengthening client and partner relationships, and aligning sales, account management, and marketing to support Bridgehead's next phase of growth. Known for a leadership style rooted in teaching and winning by process rather than individual charisma, he is well suited to a company built on delivering right-fit technology solutions for its clients. "This is the right hire at the right time," said Wes Bunch, CEO and co-founder of Bridgehead IT. "Building out our sales function has been one of the top priorities for the company, and it's bigger than any one person. Greg has stepped up to the plate with the experience, the technical chops, and many years of leadership to build and develop a team around him. We've built this business around architecting right-fit solutions for our clients, and with Greg at the helm of sales, we'll be taking that to an entirely new level." Bunch, who co-founded Bridgehead IT in 1999, has built the company into a nationally recognized IT services provider known for its vendor-agnostic approach and its commitment to delivering tailored, enterprise-level solutions. Stroike's appointment reflects the company's continued investment in experienced leadership as it scales. "This is an incredible company with amazing leadership and a strong culture focused on customer obsession," said Greg Stroike, Senior Vice President of Sales at Bridgehead IT. "They are well positioned for growth, and I'm ready to jump in, learn the Bridgehead way, and help build on the strong foundation already in place." Stroike is based in San Antonio and joins Bridgehead IT at a time when organizations are navigating increasingly complex decisions across cybersecurity, cloud, artificial intelligence, and long-term technology strategy. Media Contact Lauren Serrato Director of Marketing, Bridgehead IT 210-477-7937 | [email protected] www.bridgeheadit.com
Rackspace Technology joined Nvidia's Cloud Partner Program, pairing Nvidia's Blackwell chips with Palantir's Foundry and AIP software in a new offering called the Institutional Sovereign Pod. Shares rose more than 6% in premarket trading. The Nvidia Cloud Partner Program requires members to run Nvidia-certified infrastructure across compute, networking and storage, benchmarked against standards used by larger cloud operators. This certification provides enterprise buyers with verified performance standards. Rackspace positions itself as an accountable operator running the full stack from hardware through production, rather than just leasing capacity. CEO Gajen Kandiah said the effort focuses on control of data, models and generating systems. The same day, Nvidia and Palantir unveiled a Sovereign AI Operating System for supply chain management, naming Rackspace alongside Nebius as approved cloud partners for deployment.
The Business Week Experience celebrates 50 years. September 10, 2026 Building business bonds. by Nathaniel Miller Natalie Moreno (B.B.A. '17, M.B.A. '21) is expecting to feel a full-circle moment in the Atrium of the Alkek. B. Business Building in October. As a Global Training Enablement Manager at Rackspace Technology and scheduled guest speaker for the annual Business Week Experience, she will join a select group who have experienced the event as both a student and presenter. The annual Business Week Experience, held at the St. Mary's University Greehey School of Business, originally started as Business Week. Founded in 1976 by Brother Paul Goelz, S.M., Ph.D., Professor Emeritus of Management and Dean Emeritus, his goal was to bring the business world to the classroom. This year is a special one: the annual event will be celebrating its 50th anniversary. This year's event is scheduled for Tuesday, Oct. 27, through Thursday, Oct. 29. Through changes, adaptations, a redesign and renaming, the heart of Goelz's mission has always been about bringing business experts to the students. "We figured out the secret recipe for students' professional development through this signature program," said Rowena Ortiz-Walters, Ph.D., Dean of the Greehey School of Business. "We're graduating leaders who are working and leading our institutions and our organizations in San Antonio and making a huge impact. Hopefully, we have 50 more years of that." Classroom to boardroom experience. For decades, Business Week followed a simple, but effective, format: classroom engagement, sessions with local professionals, a keynote speaker and a concluding dinner. Records from the Greehey School of Business actually show a dinner, then an awards banquet, predating the multi-day event by at least three years. It didn't take long for Business Week to turn students into active participants. In 1980, all University undergraduates were invited to write an essay about how the event was building better partnerships. The winner received $750 and had their essay printed in the business section of the San Antonio Express-News. The biggest change to the event came in 2020, showing how the Greehey School of Business was dedicated to the core Marianist value of adapting to change. The beginning of the COVID-19 pandemic uprooted traditional norms. Instead of canceling, the event moved online, helping students prepare for a new virtual workforce. In 2021, Ortiz-Walter's first year as dean, Business Week underwent a redesign, with an official announcement made in 2022. Ortiz-Walter saw the importance of the event to the Business School's community. "We couldn't do this for 50 years if it wasn't focusing on students' professional development," she said. For the 2026 event, the Business Week format will be tweaked again to resemble a business conference. Students will be expected to attend in proper business attire and learn how to navigate check-ins and networking. Those who need clothing assistance can utilize the Rattler Wardrobe - an on-campus closet that loans professional clothing to business students. Signature events, such as the La Quinta Keynote Lecture, moderated panels and workshops will continue to be focal points of Business Week. New interactive events, like the Rattler Pit - a Shark Tank-inspired event in which University and high school students will pitch ideas to a panel of judges - will be added to the agenda this year. Attendees will also have a chance to attend Speed Networking, meeting with industry leaders, similar to speed dating, allowing students to network and work on their elevator pitches. Jurica Professor of Accounting Kent Royalty, J.D., LL.M., who celebrated 40 years at St. Mary's in 2026, said Business Week has always been student-focused. "Business Week provides a valuable opportunity for students and faculty to connect with and learn from business leaders," Royalty said. "As a professor, I am continually inspired and moved by the professional, academic and service contributions of our students." From student to speaker. Education was always important to Moreno and her family. Her father came to the United States as a child in the 1960s after the Cuban Revolution. He wished to see his children achieve the American Dream. Moreno attended private, Catholic schools from grade school through high school. St. Mary's was a no-brainer for the San Antonio native when it was time for her undergraduate and graduate studies. "When it came time to get my master's, I was looking at different programs and thought, 'Why am I looking at different universities when I went to the best one that I know?'" Moreno said. As a student, the thrill of dressing in business attire and networking at the annual event was an exciting opportunity, one that didn't feel like classes. Free food, she jokes, was also an enticing perk. It connected her classroom instruction with real-world scenarios, even preparing her for a career outside her Marketing bachelor's degree. Working at Rackspace, Moreno finds and develops internal talent. This means directing them toward training and certifications that will help them advance in their careers. It makes sense that helping others comes naturally. Without the lessons on how to navigate the various aspects of business culture, she wouldn't have the confidence to take risks. "St. Mary's prepared me to reinforce something a past manager told me, which was to treat your role like you're the CEO of your job," she said. "Because I was exposed to so much of the business world, I feel prepared to take on a bit of everything." Tell us what you think: