Phone service provider CenturyLink Inc is seeking to acquire Rackspace Hosting Inc in order to expand its cloud-computing services, according to a Bloomberg report citing people familiar with the situation. The deal would expand the Louisiana-based company's offerings of Internet and cloud services, enabling it to better compete against companies like Amazon.com Inc, Microsoft Corp and Google Inc, the report said.One person told Bloomberg the deal to acquire the $5.3 billion company might not be reached.Companies have increasingly been moving their computing and storage operations to the cloud to avoid buying equipment and operating proprietary data centers.Centurylink's competitors, ranging from telecommunications companies like Verizon to cable companies, offer cloud services to enterprise customers and have also been making acquisitions in the space.
Amazon.com, Inc. (Amazon.com) serves consumers through its retail websites and focus on selection, price, and convenience. Shares of AMZN traded higher by 0.12% or $0.43/share to $346.38. In the past year, the shares have traded as low as $284.38 and as high as $408.06. On average, 3655370 shares of AMZN exchange hands on a given day and today's volume is recorded at 2111220.
CenturyLink, Inc. (CenturyLink) is an integrated communications company. Shares of CTL traded higher by 1.0% or $0.41/share to $41.47. In the past year, the shares have traded as low as $27.93 and as high as $45.67. On average, 4196870 shares of CTL exchange hands on a given day and today's volume is recorded at 3061319.
Google Inc. (Google), is a global technology company. Shares of GOOG traded higher by 0.7% or $4.1/share to $586.08. In the past year, the shares have traded as low as $502.80 and as high as $604.83. On average, 1548080 shares of GOOG exchange hands on a given day and today's volume is recorded at 1629477.
Rackspace Hosting, Inc., is the open cloud company. Shares of RAX traded higher by 0.08% or $0.03/share to $37.24. In the past year, the shares have traded as low as $26.18 and as high as $54.20. On average, 2740710 shares of RAX exchange hands on a given day and today's volume is recorded at 2677070.
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