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Rackspace gobbling up competitionRackspace gobbling up competitionhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=177322017-09-19T05:00:00Z2017-09-19T20:50:00Z

​​​Rackspace logoAUSTIN – Rackspace Hosting Inc. is gobbling up a competing technology company headquartered on the East Coast.

Rackspace intends to acquire Jersey City-based Datapipe Inc., a managed cloud services company, in a deal expected to close during fourth quarter 2017, pending regulatory approval.

Datapipe’s annual revenue is an estimated $286 million, according to D&B Hoovers, which would make it a little more than a tenth the size of Rackspace, which had annual revenue of about $2 billion in 2015. 

When the Datapipe deal closes, it will boost Rackspace's employee count to roughly 6,700 people worldwide. 

More details, such as future offices and data centers, are expected to be decided "during the integration process," according to Rackspace, which has been actively hiring about a dozen workers for its Mexico City office and about 100 positions in San Antonio.

Rackspace also employs about 650 people in Austin.​
Austin Business Journal
Austin-Round Rock
Industrial
https://www.bizjournals.com/austin/news/2017/09/12/rackspace-agrees-to-biggest-buyout-ever-expanding.htmlRead the full article at the {Source}

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