The company may make an announcement by this
week, TechCrunch reported. (http://bit.ly/1xfbP4U)
Rackspace, which leases server space and helps corporations
store and access data in the cloud, had in May said it hired
Morgan Stanley to evaluate strategic options, including
partnerships and even a buyout.
The option of going private has come amid at least three
acquisition bids, including those from Hewlett-Packard Co and
IBM, the tech blog said, citing a source within the company.
Rackspace has faced stiff competition from newer startups as
well as established players in the cloud computing business,
such as Amazon.com Inc and Google Inc, which have slashed prices
Rackspace, which has a market value of $4.8 billion, could not
be immediately reached for a comment outside regular U.S.
(Reporting by Ankush Sharma in Bangalore; Editing by Saumyadeb
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