Rackspace Multi-Cloud Business Performance
The Just Analytics acquisition arrives roughly six months after Rackspace laid off 10 percent of its staff while pivoting toward more off-shore services.Despite the job cuts, Rackspace's business -- led by multi-cloud managed services -- has been growing and financial losses have been shrinking. For example:- Revenue was $763 million in the third quarter of 2021, up 12% from the corresponding quarter in 2020, the company said in November 2021.
- Net loss was $35 million in the third quarter of 2021, compared to net loss of $101 million in the third quarter of 2020.
Rackspace Acquires Just Analytics: Executive Perspectives
“The acquisition of Just Analytics ties into our growing professional services focus and brings market-leading Cloud-based data, analytics and AI capabilities that are in demand from our customers and prospects. In addition, we will benefit from the company’s strong APJ regional ties, talented employee base, and natural evolution up the IT services stack. These benefits will provide a clear tie between our services and important customer business metrics.”
“By combining our capabilities with the Rackspace Technology global presence, resources, and scale, we can shift our focus to solely growing our existing business while Rackspace Technology integrates business functions to help us grow. Our companies share a similar culture by differentiating ourselves through Fanatical Experience extensive technical training and certifications combined with unsurpassed relationships with key partners based on our capabilities, culture, and execution for customers.”
