Monday, February 24, 2014

Rackspace Investment Pays Off At Cloudant

An investment -- made less than a year ago -- by San Antonio-based Rackspace looks to have paid off well for the company, after Cloudant was acquired by IBM this morning. Financial terms of the deal were not disclosed, however, Rackspace just made an investment in Cloudant in May of last year, part of a $12M second round of funding for the developer of NoSQL, cloud databases. Cloudant was a big user of Rackspace's cloud technology. Massachusetts-based Cloudant develops cloud optimized database software used by companies for storing and analyzing data.