The post Rackspace said to be close to private equity buyout appeared first on Mirantis | The Pure Play OpenStack Company.
Rackspace, one of the founding companies behind OpenStack, is said to be close to a deal with Apollo Global Management to bring the company private at a value of between $3.4 billion and $4 billion. Rumors swirled around the company in 2014, but the company reportedly couldn’t get the price it was looking for, said to be in the neighborhood of $6 billion.
Since then, Rackspace has changed its market strategy, exiting the commodity cloud business and focusing on “managed services”, in which customers pay for resources and for the &8220;fanatical support&8221; the company is known for. That &8220;fanatical support&8221; is now also offered for AWS and Azure. This week Rackspace also sold its Cloud Sites premium hosting business, which is separate from its cloud services and involves sites that start at $150/month, to Liquid Web for an undisclosed sum.
Resources
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Rackspace on the verge of private equity buyout | SiliconANGLE
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Rackspace warns of hit to UK business in H2 | TechMarketView
Rackspace Q2 report; Cloud Sites business sold to Liquid Web, no other strategic news
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The post Rackspace said to be close to private equity buyout appeared first on Mirantis | The Pure Play OpenStack Company.
Quelle: Mirantis
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