RACKSPACE TECHNOLOGY, INC.

(RXT)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
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BT Selects Rackspace Technology as Cloud Partner

01/19/2022 | 09:01am EDT

LONDON, Jan. 19, 2022 (GLOBE NEWSWIRE) -- BT and Rackspace Technology® (NASDAQ: RXT), a leading end-to-end, multicloud technology solutions company, today announced a partnership agreement to transform BT’s multinational customers’ cloud services.

Under the terms of the agreement, BT hybrid cloud services will be based on Rackspace Technology’s cutting-edge solutions, which the company will deploy in BT data centres along with its Rackspace Fabric management layer.

Customers will benefit from the integration of Rackspace Technology’s cloud management expertise and automation, analytics, and AI tools with BT’s world-leading network and security capabilities.

This will enhance customer experience and enable BT to further evolve its managed cloud services.

Bas Burger, CEO of BT’s Global unit, said: “This innovative partnership with Rackspace Technology accelerates our plans to build a world-class hybrid cloud portfolio. It will deliver outstanding experiences for our customers and ensure they benefit from the best services, backed by our partner’s leadership in cloud.”

Kevin Jones, CEO of Rackspace Technology, said, “This exciting partnership with BT validates Rackspace Technology’s expertise in helping large, multinational enterprises in their cloud transformation journey and provides both companies with unique industry positioning. It highlights the enduring long-term value of a hybrid cloud model, as BT customers will now have access to the best of public cloud, private cloud, and traditional hosted environments alongside the speed, security, and resilience of BT’s worldwide networks.”

The companies have also committed to extend their partnership in the future to create new joint cloud offerings for their customers.

About BT

BT Group is the UK’s leading telecommunications and network provider and a leading provider of global communications services and solutions, serving customers in 180 countries. Its principal activities in the UK include the provision of fixed voice, mobile, broadband and TV (including Sport) and a range of products and services over converged fixed and mobile networks to consumer, business and public sector customers. For its global customers, BT provides managed services, security and network and IT infrastructure services to support their operations all over the world. BT consists of four customer-facing units: Consumer, Enterprise, Global and its wholly-owned subsidiary, Openreach, which provides access network services to over 650 communications provider customers who sell phone, broadband and Ethernet services to homes and businesses across the UK.

For the year ended 31 March 2021, BT Group’s reported revenue was £21,331m with reported profit before taxation of £1,804m.

British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange.

For more information, visit www.bt.com/about

About Rackspace Technology

Rackspace Technology is a leading end-to-end multicloud technology services company. We can 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.

Forward-looking Statements

Rackspace Technology has made statements in this press release and other reports, filings, and other public written and verbal announcements that are forward-looking and therefore subject to risks and uncertainties. All statements, other than statements of historical fact, included in this document are, or could be, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. These forward-looking statements relate to anticipated financial performance, management’s plans and objectives for future operations, business prospects, outcome of regulatory proceedings, market conditions, our ability to successfully respond to the challenges posed by the COVID-19 pandemic, and other matters. Any forward-looking statement made in this presentation speaks only as of the date on which it is made. We undertake no obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future developments or otherwise. Forward-looking statements can be identified by various words such as “expects,” “intends,” “will,” “anticipates,” “believes,” “confident,” “continue,” “propose,” “seeks,” “could,” “may,” “should,” “estimates,” “forecasts,” “might,” “goals,” “objectives,” “targets,” “planned,” “projects,” and similar expressions. These forward-looking statements are based on management’s current beliefs and assumptions and on information currently available to management. Rackspace Technology cautions that these statements are subject to risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this document, including among others, risk factors that are described in Rackspace Technology, Inc.’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein.

Contacts 
  
For BT Group:
Investor Contact
Tel: 0800 389 4909
ir@bt.com 
For Rackspace Technology:
Investor Contact:
Joe Crivelli
ir@rackspace.com 
  
Press Contact:
Tеl: +44 207 356 5369
https://www.bt.com/media-enquiries
Press Contact:
Natalie Silva
publicrelations@rackspace.com 

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Financials (USD)
Sales 2022 3 211 M - -
Net income 2022 -158 M - -
Net Debt 2022 3 088 M - -
P/E ratio 2022 -12,4x
Yield 2022 -
Capitalization 1 927 M 1 927 M -
EV / Sales 2022 1,56x
EV / Sales 2023 1,39x
Nbr of Employees 6 600
Free-Float 99,1%
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Kevin M. Jones Chief Executive Officer & Director
Amar Mandanna Maletira President & Chief Financial Officer
David Benjamin Sambur Chairman
Holly B. Windham Secretary, Chief Legal & People Officer, EVP
Dhiren R. Fonseca Independent Director
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