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Rackspace Q2 results top guidance, sells Cloud Sites

Tuesday 9 August 2016 | 09:10 CET | News
Rackspace announced an agreement to sell its Cloud Sites business to Liquid Web. Liquid Web is a global provider of professional cloud and application hosting services with over USD 90 million in annual revenue. Rackspace said the divestment is part of efforts to focus on its core activities. No financial details of the sale were disclosed. The deal was announced alongside second-quarter results showing Rackspace's revenues up 7 percent year-on-year to USD 524 million, at the top of its guidance. Excluding currency effects and the sale of its Jungle Disk business, sales rose 8.9 percent.

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Categories: Fixed
Companies: Rackspace
Countries: World
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