Cloud player Rackspace goes private in $4.3B deal
A private equity firm has signed an agreement to buy major cloud player Rackspace for $4.3 billion.Rackspace announced today that Apollo Global Management, a U.S.-based investment manager, will acquire the company in a deal that will give Rackspace shareholders $32 per share."Our board, with the assistance of independent advisors, determined that this transaction, upon closing, will deliver immediate, significant and certain cash value to our stockholders," said Graham Weston, co-founder and chairman of Rackspace, in a statement. "We are also excited that this transaction will provide Rackspace with more flexibility to manage the business for long-term growth and enhance our product offerings."To read this article in full or to leave a comment, please click here
The Colorado code release is slated for September.
The next big thing in the mobile world is 5G and virtualized networks.