Apollo to acquire Rackspace for $4.3 bln, Searchlight to invest
San Antonio, Texas-based managed cloud company Rackspace (NYSE: RAX) has agreed to be acquired by U.S. private equity firm Apollo Global Management. The deal, valued at US$4.3 billion, is expected to take the company private in the fourth quarter. As part of the transaction, Searchlight Capital Partners, a firm co-founded in 2010 by Erol Uzumeri, formerly the head of Ontario Teachers' Pension Plan's private equity group, made an undisclosed equity investment. Searchlight, which as offices in New York, London and Toronto, acquired Roots Canada Ltd in late 2015.
26 August 2016•9 mins read
