Rackspace Buys Cloud Email Provider Mailgun

San Antonio-based Rackspace Hosting said this morning that it has entered into a definitive agreement to buy Mailgun, a startup provide cloud-based, email services and APIs. Mailgun's APIs allow developers to send, receive, and track email. Financial terms of the buy were not disclosed. Mailgun is one of the startups out of the Y Combinator startup accelerator. Rackspace said the buy will enhance its portfolio, making it easy for its users to integrate cloud-based email services into their applications and websites.