WSJ : Rackspace Hosting Nears Sale To Private-Equity Firm

(RTTNews) - Rackspace Hosting Inc. (RAX) is nearing a sale to a private-equity firm, the Wall Street Journal reported citing people familiar with the matter. The Move comes two years after cloud-computing company said it would explore deal amid heightened competition.

The San Antonio-based company is in advanced talks with one or more private-equity firms, and a deal could be reached as soon as this week, according to people familiar with the matter. The company could be valued at as much as $4 billion. RAX closed Thursday's regular trading at $26.55, up $3.39 or 14.64 percent. In the after-hours trade, the stock further gained $5.25 or 19.77%.