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


Original URL: http://www.computerworld.com/article/3112742/cloud-computing/cloud-player-rackspace-goes-private-in-43b-deal.html#tk.rss_all

Original article

Comments are closed.

Proudly powered by WordPress | Theme: Baskerville 2 by Anders Noren.

Up ↑

%d bloggers like this: