11:11 Systems to Acquire Cloud Management Services Business from Sungard Availability ServicesAugust 26, 2022
11:11 Systems (“11:11”), a managed infrastructure solutions provider, announced that it has entered into an Asset Purchase Agreement to acquire Sungard Availability Services’ (“Sungard AS”) Cloud Managed Services business. The transaction is expected to close this fall.
The Cloud Managed Service business is a sophisticated, mature cloud management practice that provides transparency, control and compliance to blue-chip, enterprise customers utilizing hybrid and multi-cloud environments to power their businesses. As a part of this transaction, 11:11 will gain a team of highly skilled employees specializing in cloud management, customer service, AWS and Azure professional services and cybersecurity. 11:11 will also retain part of Sungard AS’ back-office and administrative teams. The transaction will expand 11:11’s footprint to 13 additional cloud points of presence.
“Sungard AS’ impressive community of enterprise cloud customers is accustomed to a technology partner that is not only expert at managing its cloud infrastructure, but also provides proven expertise in security and recovery services, and these customers will continue to enjoy those advantages with 11:11,” said Brett Diamond, CEO, 11:11. “Given these similarities, this transaction is a natural fit to enhance and strengthen our existing data center footprint, technology stack and services.”
11:11 has a rapidly expanding global data center footprint that spans across North America, EMEA and APAC and services customers along its three core pillars of cloud, connectivity and security. Through its prior acquisitions of iland and Green Cloud Defense, 11:11 is an established market leader in backup and disaster recovery and is one of the largest providers of IaaS services to Managed Service Providers in North America.
“Sungard AS’ expertise in providing cross-platform cloud deployments and management will contribute to our future development which includes taking compliance, scalability and availability to the next level as we help our customers manage, optimize and protect their mission critical cloud environments,” said Justin Giardina, CTO, 11:11.
11:11 is backed by Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms.
Q Advisors, a global TMT investment banking boutique, acted as exclusive financial advisor to 11:11 in connection with this transaction. Perkins Coie acted as legal advisor to 11:11. The terms of the transaction were not disclosed.