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Local cloud hosting provider Rackspace Hosting Inc. is under contract to acquire TriCore Solutions, an East Coast information technology services company, in June, the acquiring company confirmed. Norwell, Massachusetts-based TriCore Solutions was sold to BV Investment Partners, a midmarket private equity firm in 2014. Lumerity Capital was another co-investor of TriCore Solutions.
Rackspace Hosting Inc. hired a new CEO slated to start next month, the company confirmed to the Business Journal. Joe Eazor is the former CEO of Earthlink Inc., a Georgia-based information technology services and telecommunications company that was acquired by internet services provider Windstream Holdings Inc. in a $1.1 billion deal in February. Eazor "has a proven reputation for driving investment and allocation of resources to the areas that will generate the best returns," said David Sambur, a partner at Apollo Global Management LLC and board member of Rackspace, in a statement.
The former CEO of Rackspace Hosting Inc. is now leading a technology company that sells cloud-based property management software to commercial clients after taking the reins from its founder. Taylor Rhodes is the new CEO of SMS Assist LLC, a high-growth technology startup based in Chicago with hundreds of employees. Rhodes' talent was noted by SMS Assist board member and co-leader of Goldman Sachs Investment Partners venture and growth equity team Christopher Dawe.