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IBM - IPO Update: Rackspace Technology Finalizes IPO Effort
International Business Machines Corporation
Quick Take
Rackspace Technology (RXT) has filed to raise $754 million from the sale of its common stock in an IPO, according to an amended registration statement.
The company provides a range computing infrastructure and software consulting services to enterprises of all sizes worldwide.
RXT’s IPO is not cheaply priced, the firm still has a significant debt load post-IPO and an uneven recent revenue growth trajectory, so I'll watch this IPO from the sidelines.
Company & Technology
San Antonio, Texas-based Rackspace was founded to provide infrastructure solutions to enterprises.