Reuters reveals Amazon in talks to invest in cloud services company Rackspace; market reacts

Reuters broke news that Amazon is in talks to invest in U.S. cloud services provider Rackspace Technology. The deal would involve Amazon acquiring a minority stake in Rackspace, Reuters sources said. Rackspace helps companies migrate their data to Amazon Web Services, and the investment would strengthen the ties between the two companies. 

Market Impact

Rackspace Technology shares rose as much as 19% on the news.

Article Tags
Topics of Interest: DealsTech
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Market Impact