Quick Take
Rackspace Technology (RXT) has filed to raise $100 million in an IPO of its common stock, according to an S-1 registration statement.
The firm provides a range of multicloud services, security and data services.
RXT is pursuing a large market with favorable industry dynamics but is debt-heavy from its private equity buyout a few years ago.
I’ll provide an update when we learn more about the IPO.
Company & Technology
San Antonio, Texas-based Rackspace was founded to provide infrastructure solutions to enterprises.
Since its take-private acquisition by private equity firm