Rackspace May Be for Sale as It Hires Morgan Stanley to Explore Options

Cloud services provider Rackspace may be exploring a sale. The company has hired Morgan Stanley and Co. to evaluate strategic options, according to Bloomberg News. Its shares rose by seven percent after the report. Rackspace has been a frequent target of takeover speculation. In February, its CEO, Lanham Napier, left the company suddenly.

This article originally appeared on Recode.net.

Explanatory journalism is a public good

At Vox, we believe that everyone deserves access to information that helps them understand and shape the world they live in. That's why we keep our work free. Support our mission and help keep Vox free for all by making a financial contribution to Vox today.

One-Time Monthly Annual

$95/year

$120/year

$250/year

$350/year

Other

$

Yes, I'll give $120/year

Yes, I'll give $120/year

We accept credit card, Apple Pay, and Google Pay. You can also contribute via