Amazon In Talks To Invest In Rackspace

Amazon.com Inc. is in preliminary talks to invest in U.S. cloud services provider Rackspace Technology Inc, people familiar with the discussion said on Monday. The deal would involve Amazon acquiring a minority stake in Rackspace, the sources said. Rackspace helps companies migrate their data to Amazon Web Services, and the investment would strengthen the ties between the two companies. Rackspace also migrates companies to Alphabet Inc’s Google Cloud, Microsoft Corp’s Azure and VMware Inc.