Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Online software retailer Beyond.com will cut its staff by 20% and refocus on the business-to-business market. As part of the restructuring, the company's president and CEO, Mark Breier, has resigned.
Beyond.com plans to expand its eStore and government divisions, while scaling back its consumer and corporate units. The restructuring comes on the heels of the company's announcement earlier this month that fourth-quarter revenue would fall short of expectations--$34 million to $35 million, versus the $50 million analysts had expected.
Rick Neely, currently CFO, will become Beyond.com's CEO.