Press Release

Rackspace Technology Signs Multi-Year, Strategic Collaboration Agreement with AWS to Deliver Accelerated Digital Transformation for Customers

October 30, 2024
PDF Version

Agreement enhances existing collaboration aligned to business outcomes by delivering full-stack cloud and AI services globally

SAN ANTONIO, Oct. 30, 2024 (GLOBE NEWSWIRE) --  Rackspace Technology® (NASDAQ: RXT), a leading hybrid, multicloud, and AI technology services company, announced today that it has signed a Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS), with plans to offer end-to-end cloud advisory, fin-ops, migration, modernization, cloud data, machine learning (ML) and generative AI solutions to accelerate customer value across their cloud adoption journey.

The SCA includes a significant investment to help customers accelerate their migration and modernization initiatives for applications, data, and cloud infrastructure through the global expansion of the Rackspace Technology Migration and Modernization Center of Excellence. This builds on years of expertise working with the AWS Migration Acceleration Program (MAP). Rackspace Technology also recently announced the launch of Rackspace Rapid Migration Offer (RRMO), which is designed to expedite data center migrations to AWS. RRMO, also available on AWS Marketplace, provides a comprehensive suite of services encompassing migration planning, landing zone setup, migration execution, and 24x7x365 cloud operations support with monitoring and incident response. Overall, the enhanced collaboration supports the delivery of business outcomes for customers globally from Rackspace’s portfolio of full-stack cloud and AI services.

“This agreement highlights our commitment to collaboration with AWS and emphasizes our goal to deliver outstanding results. We believe customers will benefit from our differentiated value proposition that starts with migrations, modernization, data, and generative AI initiatives that help our customers accelerate business transformations,” said D K Sinha, President of Public Cloud, Rackspace Technology. “With AWS’s renowned customer obsession and Rackspace’s deep technical capabilities and Fanatical Experience™, we share a common culture of delivering the right outcomes for our customers.”

Convera is a global leader in commercial payments. As experts in foreign exchange, risk and compliance, with an unrivaled regulatory footprint, Convera’s financial network spans more than 140 currencies and 200 countries and territories. Convera partnered with Rackspace Technology to transform its customer support which processes hundreds of thousands of messages monthly. Previously, one-third of the team’s time was spent on manually categorizing and creating cases. This required hours of manual processing, which led to delays in response. By leveraging Amazon Bedrock, a fully managed service that offers a choice of high-performing foundation models (FMs) from leading AI companies like AI21 Labs, Anthropic, Cohere, Meta, Mistral AI, Stability AI, and Amazon through a single API, along with a broad set of capabilities you need to build generative AI applications with security, privacy, and responsible AI, Convera streamlined and automated its complex email classifications to dramatically speed operational workflows. This solution ultimately reduces processing times from hours to minutes and enables the support team to focus on case resolution and faster response to customers.  

“Partnering with Rackspace Technology and utilizing Amazon Bedrock has been transformative for our support operations,” said Dharmesh Syal, Chief Technology Officer at Convera. “We've automated and streamlined our processes that previously consumed a significant portion of our team's time. This innovation allows us to respond more effectively to customer needs while maintaining the agility necessary to scale our operations as we continue to grow." 

AWS and Rackspace will also collaborate to help customers unlock value from their data to solve their most challenging business problems by leveraging generative AI through Foundry for AI by Rackspace (FAIR TM). FAIR enables organizations to accelerate the adoption of responsible AI, build solid data foundations, and operate AI workloads at scale within AWS. FAIR enables organizations to build production-ready generative AI applications through the Rackspace Technology product-driven delivery methodology: Ideate, Incubate, and Industrialize.

In addition to bringing purpose-built generative AI accelerators to market, such as Intelligent Co-worker for the Enterprise (ICETM) and Rackspace Intelligent Technology Assistant (RITATM), starting in early 2025, Rackspace is set to launch AWS-validated generative AI industry accelerators and solutions in AWS Marketplace as part of the SCA agreement. Rackspace Technology recently launched the Incubate with Amazon Q offer in AWS Marketplace that helps organizations establish the feasibility of AI in their business and adopt their first generative AI use case powered by Amazon Q, a generative AI–powered assistant for accelerating software development and leveraging companies' internal data.

"We are thrilled to deepen our collaboration with Rackspace with this expanded SCA,” said Matt Yanchyshyn, VP of Marketplace and Partner Solutions at AWS. “Generative AI has changed the pace of play across every major industry and with Rackspace’s deep industry expertise combined with AWS’s advanced technologies, we can help our customers accelerate innovation. For example, by making Incubate with Amazon Q available in AWS Marketplace, Rackspace is helping accelerate procurement for customers who simply can’t wait to start their generative AI transformations.”

The Rackspace Technology and AWS collaboration underscores the value of providing flexibility that drives innovation and unlocks greater business value for customers across industries. For more information, please click here.
      
About Rackspace Technology   
Rackspace Technology is a leading end-to-end multicloud, and AI technology services company. We design, build, and operate our customers' cloud environments across all major technology platforms, irrespective of technology stack or deployment model. We partner with our customers at every stage of their cloud journey, enabling them to modernize applications, build new products, and adopt innovative technologies.
    
Media Contact: Natalie Silva, publicrelations@rackspace.com    
   

   


Consulting & Advisory Services
Professional Services
Managed Services
Quick Links
© 2024 Rackspace Technology, Inc.
×

You are using an outdated browser and are receiving a degraded experience. Please switch to the latest version of Microsoft Edge, Mozilla Firefox, Safari or Google Chrome. [Dismiss]

Disclaimer

Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk.

Rackspace Technology, Inc.  (“RXT”) has no control over the External Site, any data or other content contained therein or any additional linked websites. The link to the External Site is provided for convenience purposes only.

By clicking “Accept” you acknowledge and agree that neither RXT nor third party provider Virtua Research, Inc. (“Virtua) is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data or the technical operation of the Linked Site. Further, by entering the External Site, you also acknowledge and agree that you completely and irrevocably waive any and all rights and claims against RXT and Virtua and further acknowledge and agree that in no event shall RXT or Virtua, its officers, employees, directors and agents be liable for any (i) indirect, consequential, incidental, special, compensatory or punitive damages, (ii) damages for loss of income, loss of business profits, business interruption, loss of data or business information, loss of or damage to property, (iii) claims of third parties, or (iv) other pecuniary loss, arising out of or related to this disclaimer or the External Site

By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if RXT and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s).

If in any jurisdiction, any part of this disclaimer is held to be unenforceable by a court of competent jurisdiction, such part of this disclaimer shall be restricted or eliminated to the minimum extent and the remaining disclaimer shall otherwise remain in full force and effect.

Please note the information presented is deemed representative at the time of its original release. Changes in historical information may occur due to adjustments in accounting and reporting standards & procedures.

Non-GAAP Information

In addition to disclosing results determined in accordance with GAAP, RXT may also disclose certain non-GAAP and pro forma non-GAAP results of operations, including certain ratios, operational and miscellaneous data, as well as net income, diluted earnings per share, operating expenses, and operating income that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-GAAP and pro forma non-GAAP information provides investors with additional information to assess RXT operating performance by making certain adjustments or excluding costs or gains and assists investors in comparing our operating performance to prior periods. Management uses this non-GAAP and pro forma non-GAAP information, along with GAAP information, in evaluating its historical operating performance. RXT and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data.

The non-GAAP information is not prepared in accordance with GAAP and may not be comparable to non-GAAP information used by other companies. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP.

 

Accept
Decline