Amazon in talks to invest in cloud-services company Rackspace: report

Amazon.com Inc.
AMZN,
+1.09%
is exploring acquiring a minority stake in cloud-services company Rackspace Technology Inc.
RXT,
+10.30%,
according to a Reuters report Monday. A potential investment would strengthen the e-commerce’s standing in cloud computing, and build on its partnership with Rackspace, which helps companies migrate their data to Amazon Web Services. Rackspace has similar accords with Alphabet Inc.’s
GOOGL,
+0.77%
GOOG,
+0.68%
Google Cloud, Microsoft Corp.’s
MSFT,
+0.66%
Azure, and VMware Inc.
VMW,
+0.42%.
Rackspace is majority owned by equity firm Apollo Global Management Inc. Rackspace and Apollo declined comment. Amazon was not immediately available for comment.