Why Is Rackspace Technology (RXT) Stock Accelerating Today?

Rackspace Technology Inc. (RXT) shares are trading at $6.22 after an increase of 17.01% following a strategic move announcement. During the previous session, RXT closed at $5.32. Share volume was 2.84 million shares, which was higher than the average daily volume of 1.0 million shares over the past 50 days.

What move has RXT announced?

In a multi-million dollar program called Rackspace Accelerated Migration Program (Rackspace AMP), Rackspace Technology (RXT) a leading multi-cloud technology solutions company, announced its launch. Using this program, customers can quickly move their on-premises or colocation applications to the private cloud. Furthermore, the program provides customers with dedicated technical assistance, providing customers with better cost efficiency and increased resilience compared to public clouds if they run applications on virtual machines (VMs) or bare metal computing.

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With this program, RXT helps its customers get their applications onto next-generation private clouds by investing in their cloud journey and providing extensive financial support and knowledge. Despite pressure to shift to the cloud, many organizations are concerned with how to manage costs and maintain control. As a result of Rackspace AMP, the company can take advantage of the benefits of the private cloud without having to worry about it. Rackspace AMP facilitates the move to the cloud so the company can run its systems at a reasonable rate, in a controlled environment, and with lifecycle management built in.

With Rackspace AMP, customers have access to a pod of highly skilled engineers on-demand through RXT’s cloud support model, which understands how complex private cloud adoption can be. Developing architecture, planning migrations, automating tasks, improving security and performance, and managing cloud environments are all tasks the RXT teams undertake directly with organizations.

In addition to bringing more organizations into the public cloud, RXT also served a number of customers for whom the public cloud was not a good strategic or financial choice. By implementing these capabilities, RXT has extended the best-in-class capabilities recognized by our hyper-scale public cloud partners to the private cloud, accelerating customers’ digital transformations and elevating their important workloads.

 Further efforts by RXT include

Precia, a regional provider of valuation solutions and financial portfolio management, has recently adopted AWS cloud services early through Rackspace Technology, which has innovated and spearheaded their adoption. Based on market options and IT analyst reports, Precia chose AWS cloud services in 2014 because of its infrastructure and rapid deployment capabilities. RXT provided continuous feedback to Precia’s technology team, resulting in quick and efficient results via AWS Managed Services without any downtime.

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