Rackspace has been pivotal in the development of San Antonio's tech and entrepreneurship ecosystem. Founded in 1998, it has helped develop the tech labor force, making San Antonio a destination for top-shelf talent.

"That's probably the biggest thing I can point to. The sheer critical mass of talent," says John Dickson who works in the tech industry, running Denim Group, and also is tasked with overseeing tech landscape for the San Antonio Chamber of Commerce. More than that, Dickson says, they put San Antonio in the mainstream of tech companies.

"I'll give you a great example, I was watching the HBO miniseries Silicon Valley and they dropped the Rackspace term a few times."

In addition, many agree that the company has done much to boost the city and the tech industry as good corporate citizens through programs for youth and through their spin offs organizations Geekdom and 80/20 Foundation.

With the announced sale of the company to private-equity company Apollo Global Management for $4.3 billion, many are wondering if the priorities will change and what the future of San Antonio and Rackspace are.

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