Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Cybermoola Inc., San Francisco, has formed an alliance with supermarket chain ShopRite that makes web-spendable Cybermoola electronic currency available for purchase throughout the chain's 190 outlets. Consumers can use cash at ShopRite stores to buy Cybermoola, which can be used as an alternative to credit card payment for Internet transactions at various web stores.
Beginning August 13, Cybermoola will be available for purchase in all ShopRite stores, to be printed in-store by the Catalina Marketing Network. Each printed certificate holds a 16-digit unique serial number and has a stored dollar value equal to the amount paid to the cashier. Shoppers can use cash to buy Cybermoola in denominations of $20-$100 and then activate the certificate by going to the Cybermoola web site to stablish their account.
ShopRite is a major U.S. retailer-owned cooperative that serves more than four million customers in New Jersey, New York, Pennsylvania, Connecticut and Delaware.