88. Rackspace Hosting

Headquarters: Windcrest, Texas
Bought By: Apollo Global Management (with substantial Chinese investment)
Headquarters: N/A

Rackspace, based in Windcrest, Texas, is a leading provider of managed cloud services. In 2016, Rackspace was taken private in a $4.3 billion deal by a consortium of investors led by Apollo Global Management. Notably, the consortium included Searchlight Capital Partners and a subsidiary of the Chinese conglomerate HNA Group.

Rackspace Hosting @Google/Pinterest

This transaction emphasizes China’s increasing interest in gaining a foothold in the fast-growing cloud services market. By investing in established companies like Rackspace, Chinese firms not only gain access to advanced technologies and business models but also benefit from their robust customer bases and industry knowledge.