It was the worst surprise that Taylor Rhodes, new CEO of Rackspace Hosting, Inc. (NYSE:RAX), could have expected from the investors. Shares of Rackspace fell nearly 17% after the announcement that the company would stay independent and called off selling efforts. Rackspace Hosting, Inc. (NYSE:RAX) mentioned in its May SEC filing that the company is…
CenturyLink, Inc. (CTL) Plans to Acquire Rackspace Hosting, Inc. (RAX) to Explore Cloud-Computing Possibilities
CenturyLink, Inc. (NYSE:CTL) is likely to enter the cloud-computing service industry by acquiring Rackspace Hosting, Inc. (NYSE:RAX). Rackspace Hosting, Inc. (NYSE:RAX) has a stock market value of $5.33 billion until last week. The acquisition will help CenturyLink, Inc. (NYSE:CTL) to compete against other web service providers including Amazon.com, Inc. (NASDAQ:AMZN). CenturyLink, Inc. (NYSE:CTL) is not…