Tag Archives: fuel

By going private, Rackspace looks to fuel its cloud evolution

Rackspace, a company that was an early player in the cloud market, is being forced to evolve or continue to be left behind.

The cloud and web-hosting company announced today that it’s being acquired by Apollo Global Management, a U.S.-based private equity firm, and will become a private company. It’s a move analysts say will enable Rackspace to make big changes without worrying about an anxious or angry response from shareholders.

Under the $ 4.3 billion deal, Rackspace stockholders will receive $ 32 per share. The purchase is expected to be finalized in the fourth quarter, according to the company.

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IDG Contributor Network: No IPO, debt funding instead. Intacct gets some fuel

Cloud ERP vendor Intacct last week announced that it has secured debt funding by way of a $ 40 million facility from Silicon Valley Bank. This comes at the same time as Intacct announced year-on-year new bookings increasing by some 34 percent.

Intacct has an interesting job in front of it — it is a mid-market vendor and therefore fills the space between tools designed for small and mid-sized businesses (QuickBooks and Xero, for example) and more enterprise-focused tools such as NetSuite, SAP, and Oracle. The mid-market space is a difficult one — customers have a plethora of different requirements and often the complexity, if not the budgets, are similar to those of larger enterprise organizations.

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