Rackspace Goes Private

Rackspace Goes Private

Struggling cloud computing provider Rackspace has been purchased by Apollo Global Management LLC, a private equity firm. The deal, worth approximately $4.3 billion, will take the company private to give it time to transition to a services business. “This transaction will provide Rackspace with more flexibility to manage the business for long-term growth and enhance our product offerings,” said Graham Weston, chairman and co-founder of Rackspace.

Recently, Rackspace’s traditional cloud computing business had been declining. “Rackspace’s public cloud services have been losing market share to the hyperscale providers,” said Joshua Yatskowitz, a Bloomberg Intelligence analyst. “The company has said current customers haven’t been churning, but it is seeing a smaller portion of new workloads, which have increasingly gone to the hyperscale players.” Rackspace adopted a new business model, helping enterprises shift their data center operations to the AWS and Azure cloud computing services, but so far that services business has not compensated for other declines.

View article

Share the Post:
XDR solutions

The Benefits of Using XDR Solutions

Cybercriminals constantly adapt their strategies, developing newer, more powerful, and intelligent ways to attack your network. Since security professionals must innovate as well, more conventional endpoint detection solutions have evolved

AI is revolutionizing fraud detection

How AI is Revolutionizing Fraud Detection

Artificial intelligence – commonly known as AI – means a form of technology with multiple uses. As a result, it has become extremely valuable to a number of businesses across

AI innovation

Companies Leading AI Innovation in 2023

Artificial intelligence (AI) has been transforming industries and revolutionizing business operations. AI’s potential to enhance efficiency and productivity has become crucial to many businesses. As we move into 2023, several

data fivetran pricing

Fivetran Pricing Explained

One of the biggest trends of the 21st century is the massive surge in analytics. Analytics is the process of utilizing data to drive future decision-making. With so much of

kubernetes logging

Kubernetes Logging: What You Need to Know

Kubernetes from Google is one of the most popular open-source and free container management solutions made to make managing and deploying applications easier. It has a solid architecture that makes

ransomware cyber attack

Why Is Ransomware Such a Major Threat?

One of the most significant cyber threats faced by modern organizations is a ransomware attack. Ransomware attacks have grown in both sophistication and frequency over the past few years, forcing

data dictionary

Tools You Need to Make a Data Dictionary

Data dictionaries are crucial for organizations of all sizes that deal with large amounts of data. they are centralized repositories of all the data in organizations, including metadata such as