Rackspace, a Texas-based cloud computing giant with an office in Blacksburg, has agreed to acquisition termswith private equity firm Apollo Global Management LLC in a $4.3 billion deal with implications for the local technology community.
The company employs 98 people at its Virginia Tech Corporate Research Center office. The outpost, affectionately known as Racksburg, is the region’s most high-profile technology tenant and hires many Virginia Tech graduates.
Ownership shake-ups can set off other changes in management and corporate strategy, though Rackspace spokesman Brandon Brunson said in an email Friday that the local office isn’t going anywhere.
“The Blacksburg office supports some of Rackspace’s fastest growing products,” he wrote. “The office will continue to serve as a strategic hub for engineering, software development and product management.”
