Rackspace plans incremental credit facilities for Datapipe purchase

By Sara Rosenberg

New York, Sept. 11 – Rackspace has received a commitment for incremental senior secured credit facilities to help fund its acquisition of Datapipe, according to a news release.

Citigroup is the lead bank on the deal.

Closing is expected in the fourth quarter, subject to regulatory approvals.

With this transaction, the majority owner of Datapipe, Abry Partners, will receive equity in Rackspace.

Rackspace, owned by Apollo Global Management LLC and co-investors, is a San Antonio, Texas-based multi-cloud managed services company. Datapipe is a Jersey City, N.J.-based provider of managed services across public and private clouds, managed hosting and colocation.

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