- American City Business Journals•2 days ago
San Antonio area leaders are pooling resources in hopes of keeping the operations of a business division sold off by Rackspace Hosting Inc. in the Alamo City and growing its office with at least 100 jobs in the downtown district by 2020. Next week, the San Antonio City Council is expected to approve $225,000 in economic incentives through the city's Economic Development Incentive Fund for Liquid Web Inc., a Lansing, Michigan-based that sells cloud hosting for businesses and operates its own data centers, much like Rackspace. Meanwhile, Bexar County Commissioners are expected in early October to approve $150,000 through the Bexar County Innovation Fund in exchange for Liquid Web, a company with revenue of $100 million, providing the jobs and a local office for at least three years.
- American City Business Journals•4 days ago
Rackspace Hosting Inc. had its hands full of investors looking to take it private in the past year. At one point, there were 14 financial investment entities courting the San Antonio-based cloud computing services company, according to a preliminary proxy statement that Rackspace filed with the U.S. Securities and Exchange Commission. In December 2015, an independent board committee including Michael Sam Gilliland, Kevin Costello and John Harper was appointed to meet about a potential transaction — or sale of Rackspace.
- American City Business Journals•5 days ago
The courting process between investment companies seeking to acquire Rackspace Hosting Inc. may have started with Morgan Stanley & Co. Inc. in 2014, but its rival Goldman Sachs Group Inc. was there at the end and will walking away with the big payout of $25 million as a transaction fee, records show. In May 2014, Morgan Stanley was contracted by Rackspace leadership after the San Antonio-based managed cloud provider was approached by several unnamed parties interested in a strategic partnership and possible acquisition. Then in August 2015, Rackspace hired Goldman Sachs in response to unspecified requests from some of its stockholders, according to the company's recent proxy statement on the Apollo Global deal filed with the U.S. Securities and Exchange Commission.
Rackspace Hosting, Inc. (RAX)
NYSE - NYSE Real Time Price. Currency in USD
|Bid||31.56 x 28000|
|Ask||31.57 x 31700|
|Day's Range||31.56 - 31.75|
|52wk Range||15.05 - 32.14|
|1y Target Est||N/A|
Trade prices are not sourced from all markets
|P/E Ratio (ttm)||27.78|
|Avg Vol (3m)||3,713,260|
|Dividend & Yield||N/A (N/A)|