Exclusive: Amazon in talks to invest in cloud services company Rackspace, say sources

By Greg Roumeliotis and Krystal Hu
(Reuters) - 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.
There is no certainty that Amazon and Rackspace, which is majority-owned by private equity firm Apollo Global Management Inc, will agree a deal, the sources said. If there is one, it could take one to two months to negotiate it, the sourced added, asking anonymity because the matter is confidential.
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