US-based managed infrastructure solutions provider, 11:11 Systems, recently announced that it has entered into an agreement to acquire Sungard Availability Services’ Recovery Services business. The parties foresee receiving bankruptcy court approval of the sale by mid-October. The transaction is expected to close later this fall along with 11:11 Systems’ simultaneous acquisition of Sungard AS’ Cloud and Managed Services (CMS) business.
Once the acquisition of these two Sungard AS businesses is completed, it will cement 11:11 Systems as one of the largest and most experienced cyber resiliency and disaster recovery providers. 11:11 Systems announced the acquisition of both – Green Cloud Defense and iland, cyber resiliency, and disaster recovery, at the beginning of 2022.
The completion of the two Sungard AS acquisitions will bring together the combined resources, experience, talent, solution offerings, and customer and partner ecosystems to establish an in-depth, comprehensive, and global cyber resiliency and disaster recovery practice within 11:11 Systems.
“It was evident early in our transition planning with 11:11 for the CMS transaction that there were incredible synergies between 11:11’s cloud, backup, and disaster recovery offerings and our RS business. After pursuing several options for our RS business, including operating it as a standalone business, along with our advisors and board we concluded that 11:11 was the best option for our RS business. We believe the transactions with 11:11 will create a great outcome for our customers and Sungard AS’ team members,” said Michael K. Robinson, Chief Executive Officer and President, Sungard Availability Services.
The addition of Sungard AS’ infrastructure recovery, backup, vaulting, managed recovery, and consulting services will complement 11:11’s cloud, backup, disaster recovery, and managed security solution suite. This combination of solutions, services, and expertise will serve as the most complete cloud, recovery, and resiliency offering available irrespective of the customer use case or where data resides.
“We know that more than half of all companies today have experienced some sort of cyber-attack within the past 18 months. With these strategic acquisitions, 11:11 Systems is the best option on the market for helping customers of any size – no matter how simple or complex their needs are – prepare for and defend against cyber-attacks and other business interruptions,” said Brett Diamond, CEO, 11:11 Systems. “We are bringing together the market’s best players in cyber resiliency, harnessing their experience and strength, and will add to it an innovation platform that will not only convey our combined customer ecosystem safely into the future but also will optimize their environments for efficiency, cost, and availability.”
“Our goal is to enhance the cyber resiliency and disaster recovery team within 11:11 Systems by combining the best talent from the industry’s top data protection providers to expand options for our existing customers and blaze the path for business resiliency in the future,” said Justin Giardina, CTO, 11:11. “The well of experience, expertise and solution excellence is deep, and we intend to fully optimize this unique opportunity to the benefit of our customer and partner ecosystem.”
11:11 is backed by Tiger Infrastructure Partners which is a middle-market private equity firm investing in growing infrastructure platforms. Q Advisors, a global TMT investment banking boutique, was the exclusive financial advisor to 11:11 for this transaction. Perkins Coie served as the legal advisor to 11:11. The terms of the transaction were however not disclosed.
11:11 Systems – recent acquisitions
11:11 Systems has been expanding across North America, EMEA, and APAC with its three core pillars of cloud, connectivity, and security through acquisitions over the past few years.
In August 2022, 11:11 announced its intent to acquire Sungard Availability Services’ (Sungard AS) Cloud Managed Services business. This deal will expand 11:11’s footprint to 13 additional cloud points of presence. As a part of its most recent transaction with Sungard AS, 11:11 will gain a large team of highly skilled employees as well as 13 new cloud points of presence, which when combined with the 13 cloud points of presence in its acquisition of Sungard AS’ CMS business totals 26 new cloud points of presence for 11:11’s customers.
11:11 acquired Static1, a managed network and IT infrastructure development and services company in July 2022.
In January 2022, 11:11 completed the acquisition of iLand, a cloud service provider (CSP) providing infrastructure-as-a-service (IaaS), disaster recovery-as-a-service (DRaaS), and backup-as-a-service (BaaS). It also acquired Green Cloud Defense which is a Top 250 MSSP, IaaS, and Fortinet partner supporting roughly 700 MSPs.
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