US-based IT hosting company Rackspace has hired investment bank Morgan Stanley to find strategic options that could see it partnering with bigger technology companies, according to news service Bloomberg.

“Our board decided to hire Morgan Stanley to evaluate the inbound strategic proposals, and to explore any other alternatives which could advance Rackspace’s long-term strategy,” the company said in the statement.

Morgan Stanley will explore ways to expand Rackspace’s business after Amazon and Google dramatically cut their cloud product prices.

Amazon Web Services reduced some of its price plans by a huge 65% and Google slashed some of its prices by an incredible 85% in April.

At the beginning of the week in Rackspace’s Q1 2014 earnings call its president William Taylor Rhodes said the company had to deal with the fact Amazon and Google are in the cloud market.

Taylor Rhodes said although Amazon and Google are competing in the cloud market they are competing in a different market.

Rackspace is exploring options that could include a partnership or acquisition but a deadline has not been set.