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What is Rackspace?

Rackspace, a cloud security solutions vendor and managed cloud services provider for AWS, Azure, and Google Cloud, offers data modernization, cloud security solutions and cloud optimization. With its cloud native experts, Rackspace assesses, designs, builds, manages and optimizes cloud applications, data and security for native multicloud deployments.

Rackspace that launched in 1998, started to provide end-to-end customer service and branded it Fanatical Support. The company developed specialized expertise in technologies like Linux and Windows and network security. When Amazon launched the first big multi-tenant public cloud in 2006, Rackspace created a new market category, managed cloud. Today, Rackspace Technology is an important provider of expertise and managed services across all the major public and private cloud technologies.

Rackspace Technology was acquired by Apollo Global Management in 2016 and had filed official documents with the Securities and Exchange Commission proposing an initial public offering (IPO) of the IT service company’s common stock 4 years later. It first went public in 2008 and became a private company in a $4.3 billion deal with investors led by funds affiliated with Apollo Global Management.

This year, Rackspace Hosting has rebranded as Rackspace Technology to reflect its focus as a multi-cloud technology solutions provider. The company now focuses on cloud optimization, security, cloud-native enablement, and data modernization. Finally, Rackspace listed on the Nasdaq under the symbol RTX.

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