Deals
Succumbing to Amazonian Cloud Rivals, Rackspace Goes Private
- Apollo agrees to buy cloud-services provider for $4.3 billion
- Financial muscle, scale of Amazon, Microsoft, Google too much
Apollo Agrees to Buy Rackspace in $4.3 Billion Deal
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Low online prices and convenience offered by Amazon.com Inc. usually hammers rival retailers. Now it’s happening in the world of corporate IT services.
Apollo Global Management LLC is buying Rackspace Hosting Inc. for $4.3 billion after the cloud-services company failed to keep pace with cheaper and broader offerings from Amazon, and other large technology companies like Microsoft Corp. and Google.