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Web hosting provider Rackspace files for IPO

April 25, 2008
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Rackspace, a leading hosting company which supports websites, web-based IT systems and computing, filed with the SEC for an IPO on Friday. The company booked $362 million in sales in 2007 and plans to sell its shares through an auction process. Goldman Sachs, Credit Suisse and Merrill Lynch are the lead underwriters on the deal. No terms were disclosed in the initial filing.