Rackspace IPO Rumors: Will Cloud MSP Proceed With Initial Public Offering>
CHANNEL e2e – Joe Panettieri
Rackspace, backed by private equity firm Apollo Global Management, is preparing for an IPO (initial public offering) that could value the cloud MSP at more than $10 billion, including debt, Reuters reports. At first glance, itâs unclear if or how the current coronavirus pandemic and related U.S. economic shutdown will impact Rackspaceâs plans. But take a closer look, and Rackspace appears upbeat about the continued shift toward cloud and managed services amid the pandemic. Rackspace has confidentially filed for an IPO with the U.S. Securities and Exchange Commission and is planning to proceed with a stock market debut as soon as the volatility that has been fueled by the pandemic subsides, Reuters reports.
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