Cloud service provider Rackspace Hosting Inc may take itself private and is in talks with a private equity firm to fund the deal, technology blog TechCrunch reported on Wednesday, citing a source. The company may make an announcement by this week, TechCrunch reported. (bit.ly/1xfbP4U)Rackspace, which leases server space and helps corporations store and access data in the cloud, had in May said it hired Morgan Stanley to evaluate strategic options, including partnerships and even a buyout.The option of going private has come amid at least three acquisition bids, including those from Hewlett-Packard Co and IBM, the tech blog said, citing a source within the company.Rackspace has faced stiff competition from newer startups as well as established players in the cloud computing business, such as Amazon.com Inc and Google Inc, which have slashed prices recently.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN traded higher by 2.34% or $7.61/share to $332.39. In the past year, the shares have traded as low as $279.33 and as high as $408.06. On average, 4650790 shares of AMZN exchange hands on a given day and today's volume is recorded at 3178740.
Google Inc. (Google) is a global technology company. Shares of GOOG traded higher by 1.28% or $7.39/share to $582.67. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 2270370 shares of GOOG exchange hands on a given day and today's volume is recorded at 1446339.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS fell by 0.03% or $-0.01/share to $32.32. In the past year, the shares have traded as low as $23.83 and as high as $33.52. On average, 10821100 shares of MS exchange hands on a given day and today's volume is recorded at 7787590.
Rackspace Hosting, Inc., is the open cloud company. Shares of RAX traded higher by 0.27% or $0.09/share to $33.75. In the past year, the shares have traded as low as $26.18 and as high as $54.20. On average, 3685130 shares of RAX exchange hands on a given day and today's volume is recorded at 2273076.
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