Rackspace Hosting, based in San Antonio, on Monday announced plans to sell its Cloud Sites business unit to Liquid Web, based in Lansing, Michigan.
The financial terms of the deal were not disclosed. The business will remain in San Antonio, according to a news release.
Liquid Web, a $90 million a year web hosting business, reports that the Cloud Sites platform will significantly augment its web hosting and cloud services business.
“With the addition of Cloud Sites, we further our mission to empower web professionals all over the world to create content and commerce without worry, free of problems and devoid of even one bit of hesitation by providing absolutely flawless web hosting,” Liquid Web CEO Jim Geiger said in a news release.
With the acquisition of Cloud Sites, Liquid Web will grow to approximately 550 employees and 30,000 customers globally. The company plans to invest in the Cloud Sites platform, employees and overall business.
“Our No. 1 priority is making this a seamless transition for everyone involved, most importantly our customers and new team members,” Geiger said. “We are committed to investing and growing the current business with plans to have the Cloud Sites team firmly rooted in San Antonio. Our goal is to be a preferred technology employer in San Antonio, while also being an engaged corporate citizen.”
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