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.

Thank you for visiting Telecompaper

We hope you've enjoyed your free articles. Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Fixed
Companies: Rackspace
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Rackspace beeindigt beursnotering

Published 07 Nov 2016 09:30 CET | World
Rackspace heeft zijn beursnotering aan de New York Stock Exchange beëindigd na de voltooiing van de overname door Apollo Global ...

Rackspace launches global brand campaign

Published 20 Oct 2016 12:17 CET | United States
Managed cloud provider Rackspace launched the biggest and most expansive advertising campaign in its 18-year history to raise ...

Rackspace adds VMware software-defined data centre tech

Published 30 Aug 2016 13:43 CET | World
Rackspace has announced the imminent launch of a new offering with support for VMware software-defined data centre (SDDC) ...

Rackspace to go private in USD 4.3 bln takeover by Apollo

Published 29 Aug 2016 08:51 CET | World
Rackspace has agreed to go private in a takeover by Apollo Global Management valuing the company at USD 4.3 billion. Searchlight ...

Rackspace Hosting close to private equity takeover - report

Published 05 Aug 2016 09:33 CET | World
Rackspace Hosting is nearing a sale to a private-equity firm, and a deal could be reached as soon as this week, people familiar ...

Rackspace revenues lift 8% to USD 518 mln

Published 10 May 2016 09:27 CET | World
Rackspace said revenues for its quarter rose 7.9 percent from the year before to USD 518 million, driven by cloud services. ...