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WSJ: Rackspace in talks to be sold to private equity firms

Tech giant a major San Antonio employer

SAN ANTONIO – One of the city’s largest employers, Rackspace, could soon be sold to private equity firms, according to The Wall Street Journal.

The paper had little additional details on the possible deal.

In the last three years, the company’s stock has dropped from trading at a high of nearly $80 to trading in the mid-$20. Though news of the possible sale did cause the company’s stock to increase Thursday afternoon.

When contacted by KSAT for comment, a Rackspace spokesperson said, “The company does not comment on rumors or speculation.”