Amazon in talks to acquire stake in Rackspace after lacklustre IPO - report

Josh Budd
clock • 1 min read

Rackspace’s shares spike as rumours emerge

Amazon is rumoured to be in talks to acquire a stake in Rackspace, sending the cloud services company's shares soaring on Monday. Rackspace's return to the stock market earlier this month was met with a lukewarm reception from investors, with its share price falling by more than a fifth to a low of $15.89 a-share after the opening bell. But a report by Reuters yesterday revealed that Amazon has started talks to invest in Rackspace, giving onlookers new confidence in the cloud services f...

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