Wednesday , 26 June 2019
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Rackspace is officially no longer looking for a buyer

Rackspace is officially no longer looking for a buyer

Rackspace is officially no longer looking for a buyer

Rackspace is officially no longer looking for a buyer

Above: New Rackspace chief executive Taylor Rhodes at the company’s San Francisco office on July 29.

Image Credit: Jordan Novet/VentureBeat

Managed-cloud computing and hosting provider Rackspace said today that it will stay independent, four months after announcing that it was open to partnership and acquisition proposals.

The company also appointed Taylor Rhodes as its new chief executive. He previously held the president role, which he took on in January.

The news suggests that Rackspace wants to focus hard on its new managed-cloud strategy, rather than lag in the commodity cloud-infrastructure market, which Amazon Web Services leads. And it also puts an end to loads of speculation about the future of the company.

From today’s release:

After a comprehensive review, the board decided to terminate M&A discussions. Based on Rackspace’s reaccelerated revenue growth and its potential trajectory for the coming year, the board concluded the company is best positioned to maximize shareholder value by executing its strategy as the #1 managed cloud company.

The timing is interesting. Earlier this month Bloomberg reported that telecommunications and cloud provider CenturyLink was looking into a Rackspace acquisition.

Developing….

Rackspace Hosting is the service leader in cloud computing, and a founder of OpenStack, an open source cloud platform. The San Antonio-based company provides Fanatical Support® to its customers, across a portfolio of IT services, incl… read more »

Rackspace (NYSE: RAX) is the #1 managed cloud company. Its technical expertise and Fanatical Support® allow companies to tap the power of the cloud without the pain of hiring experts in dozens of complex technologies. Rackspace is al… read more »

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