San Antonio-based cloud computing company Rackspace Hosting said Thursday it has completed its sale to New York private equity firm Apollo Global Management LLC in a deal valued at $4.3 billion.
Apollo acquired Rackspace for $32 per share, according to a news release.
The deal – which was announced in August -- makes Rackspace a private company. Its common stock will no longer be listed for trading on the New York Stock Exchange, the company said.
“We are excited to begin this new chapter for Rackspace as a private company,” Rackspace CEO Taylor Rhodes in a written statement. “We look forward to working with Apollo as we manage Rackspace for long-term growth and expand our early leadership of the managed cloud market. We believe that the best years for Rackspace are yet to come.”
Founded in 1998, Rackspace had revenue of more than $2 billion in 2015.
The company has more than 500 employees in Austin.
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