Rackspace Changes Name To Align With Multicloud Solutions
Rackspace Hosting — the San Antonio cloud computing company — is no more. The announced a new name, Rackspace Technology, Monday.
In a press release, the company said it wants to focus on better support companies' using multiple cloud platforms and reflected on a number of partnerships and acquisitions.
“Our new name, mission and multicloud solutions better represent the full value we bring to market,” said Kevin Jones, CEO of Rackspace.
Jones joined Rackspace a little over a year ago after several years of both company acquisitions and staff reductions.
2020 marks the first year in four to not see February layoffs.
| Releated | Third Year In A Row Of February Rackspace Layoffs |
The company also began leasing office space in its headquarters, the former Windsor Park Mall, for the first time in its history.
The company was purchased by private equity giant Apollo Global Management in 2016, and Reuters reported earlier this year that Rackspace had confidentially filed to go public again.
The new name change may precede some announcement on an initial public offering. The company's balance sheet has reportedly been bolstered by the rush to work-from-home as the COVID-19 pandemic grows.
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