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Rackspace reportedly in talks to go private

RackSpace Hosting
Noah Berger | Bloomberg | Getty Images

Shares of Rackspace Hosting were halted after reports that the company could go private.

The Wall Street Journal reported that Rackspace is in advanced discussions with a private equity firm and that a deal may be announced as soon as this week.

The stock was temporarily halted on the news, but later reopened and was last up more than 14 percent in extended trading.

Rackspace told CNBC it does not comment on rumors or speculation.

Read the full report on The Wall Street Journal.

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