San Antonio email technology company bought for $1.9 billion

Pathwire, an email services company that was once part of Rackspace, is being acquired by Swedish company Sinch AB in a $ 1.9 billion cash and stock deal.

It can one of the local tech industry’s largest deals since 2016, when Apollo Global Management bought Rackspace for $ 4.3 billion.

Sinch, a global cloud communications company, will pay the Sellers, a group that includes Chicago-based private equity firm Thoma Bravo, $ 925 million in cash and 51 million new Sinch shares.