Tuesday, March 27, 2018

Rackspace's Owners Eye IPO

The private equity owners of Fort Worth-based Rackspace are eyeballing an IPO offering for the provider of hosting and Internet services, according to a report today. According to Bloomberg, citing "people with knowledge of the matter", Rackspace's private equity owner, Apollo Global Management, is mulling a public offering for Rackspace, which would value Rackspace at as much as $10 billion. Apollo Global Management acquired Rackspace for $4.3 billion back in 2016, taking the company private. That go-private deal also included investor Searchlight Capital Partners, L.P.