Cloud-computing provider Rackspace Hosting is being taken private by private-equity firm Apollo Global Management for $4.3 billion.
Rackspace provides cloud services to customers, allowing them to use remote servers for data storage and computing power. The company has shifted its business model in recent years from primarily running its own cloud-based serves in its 11 data centers to also helping to manage services from larger technology companies, such as Amazon.com Inc. and MicrosoftCorp.
Rackspace said going private provides the company with more flexibility to take on shifts in customer demand. Chief Executive Taylor Rhodes said Apollo’s ownership will help inform the company’s strategy as it develops fresh IT products and seeks out new markets.
Full Content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI