Tech Stocks News! Rackspace Hosting, Inc. (RAX), Integrated Device Technology Inc (IDTI)
Shares of Rackspace Hosting, Inc. (NYSE:RAX) ended Friday session in green amid volatile trading. The shares closed up +0.03 points or 0.09% at $31.86 with 1.55 million shares getting traded. Post opening the session at $31.82, the shares hit an intraday low of $31.82 and an intraday high of $31.87 and the price vacillated in this range throughout the day. The company has a market cap of $4.01 billion and the numbers of outstanding shares have been calculated to be 125.81 million shares.
Rackspace Hosting, Inc. (RAX) announced two new leaders in its international team. Reinhard Waldinger has been promoted to the role of Managing Director, International, looking after all regions outside of the USA. He will be supported by Alex Fuerst, as Regional Leader for DACH. These appointments mark the opening of a new Rackspace office in Munich that will grow the company’s support of German-speaking customers across Germany, Austria and Switzerland.
Reinhard Waldinger takes Rackspace International Managing Director role
Waldinger has worked at Rackspace for more than 10 years in offices around the world, including Zurich, and will now be responsible for all of the company’s operations internationally. Within this role, he will work closely with Rackspace customers, employees and partners to help ensure that the company continues delivering the best service possible. Prior to this role, Waldinger was Vice President of Finance for Rackspace International. Born in Austria, Waldinger received an MBA from Vanderbilt University.
“As we continue to expand into new regions, I look forward to using my experience of working at Rackspace for over a decade to drive the expansion and grow the business,” comments Reinhard Waldinger. “With more organisations now using multiple cloud providers, we are uniquely positioned with the technical expertise, business acumen and outstanding customer support to help these businesses succeed.”
Alex Fuerst appointed DACH lead
Fuerst is a trained lawyer with a Masters degree in Business Administration, from Georgetown University in Washington, D.C. (USA) and comes with 15 years of experience in the IT field. He began his career at Siemens AG, followed by senior positions at Motorola, Avaya and Acronis.
“Having grown up around Bodensee — at the heart of the DACH region — I am excited to bring local knowledge to my new role at Rackspace,” says Alex Fuerst. “Our goal is to become the largest Managed Cloud provider in Germany, Switzerland and Austria by leveraging our deep expertise in OpenStack, Azure and AWS. Whatever size a business is, they are in good hands at Rackspace and will receive high-quality, personal, anytime support. As well as the gradual expansion of the Munich office and its customer base, we’ll be focusing on growing our channel strategy with our industry partners.”
Shares of Integrated Device Technology Inc (NASDAQ:IDTI) ended Friday session in red amid volatile trading. The shares closed down -0.06 points or -0.29% at $20.31 with 1.17 million shares getting traded. Post opening the session at $20.26, the shares hit an intraday low of $19.95 and an intraday high of $20.38 and the price vacillated in this range throughout the day. The company has a market cap of $2.72 billion and the numbers of outstanding shares have been calculated to be 134.32 million shares.
Integrated Device Technology Inc (IDTI) announced that ZTE Corporation a major international provider of telecommunications, enterprise and consumer technology solutions for the mobile Internet, selected the new IDT® RapidIO 10xN interconnect semiconductors for its new generation of wireless base stations. The IDT chips, members of the recently introduced RXS switch family, will enable the ZTE systems to evolve and meet the ever-growing need for greater capacity and scalability over the coming years.
IDT’s prior generation RapidIO switches are used in virtually every 4G LTE phone call and download made now.
“The data being pushed and pulled over networks is growing at an extraordinary rate, so when we were building our latest wireless base stations, we were careful to select components that can grow and meet future demands,” said Tian Sen, chief engineer of ZTE’s Baseband Unit Department. “IDT RapidIO switches are ubiquitous in the communications field, and this new generation of switches delivers significantly better performance, preparing us well for the systems of tomorrow.”