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Abu Dhabi Global Market (ADGM)The international financial center of the Emirates, the capital of the United Arab Emirates, in cooperation with Rspace technology company (NASDAQ: Receiving end) About Multiple Strategic Technology Initiatives. Financial terms of the transaction have not been disclosed.
Rackspace Technology will support ADGM in utilizing cloud computing and developing an integrated business data platform.
The cloud migration will enable ADGM to increase the cost efficiency and agility of IT operations and provide a modern, secure technology footprint to deploy enhanced business services.
Abdullah Al Qubaisi, Director Technical Services, ADGM, said: “We have grown exponentially over the past seven years and believe our cloud and data platform journey will not only help us maintain this momentum, but future-proof ADGM as One organization. We believe Rackspace Technology, with its deep cloud expertise and relationships with major hyperscale public clouds, is the right partner to support us on this journey.”
Price Action: RXT shares were down 5.70% at $5.80 at last check Thursday.
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