11:11 Systems Completes Acquisitions of Sungard Availability Services’ Recovery Business and Cloud Managed Services Business
FAIRFIELD, N.J.–(BUSINESS WIRE)–11:11 Systems (“11:11”), a managed infrastructure solutions provider, today announced the completion of both the acquisition of Sungard Availability Services’ (“Sungard AS”) Recovery Services business and Sungard AS’ Cloud and Managed Services (CMS) business. Bringing 11:11’s total acquisitions to seven in the past year, the combined offerings and consulting team capabilities establish 11:11 as a market leader in cloud, connectivity and security with nearly 5,000 customers and over 60 global cloud points of presence.
Research from Gartner® found that “75% of organizations are pursuing security vendor consolidation in 2022, up from 29% in 2020.” 11:11 is meeting this growing demand by combining strategic offerings into one solution suite that addresses a range of complex customer use cases. Once the integration is complete, all of the acquired brands will eventually operate as 11:11 Systems.
“Over this past year, we had the opportunity to bring together expertise, solutions and services from leading companies, including these two Sungard AS businesses, to form the foundation of 11:11 Systems,” said Brett Diamond, CEO, 11:11. “With the strong building blocks of subject matter expertise, established products and services, and exceptional customer and partner relationships, we are thrilled to combine entities under the 11:11 brand. Combining the best of each of the cloud, connectivity and security experts, our interconnected team is equipped to handle a wide spectrum of customer challenges – from the simple to the complex – now giving customers more options, speed and efficiency.”
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.
ABOUT 11:11 SYSTEMS 11:11 Systems is a managed infrastructure solutions provider that holistically addresses the challenges of next-generation managed cloud, connectivity and security requirements. The 11:11 model empowers customers and partners to “Rethink Connected,” which includes fully-integrated, fully-automated services, activities and delivering increased performance, optimization and savings. Learn more at 1111Systems.com.
ABOUT TIGER INFRASTRUCTURE PARTNERS Tiger Infrastructure Partners is an innovative, middle-market private equity firm that invests in new and growing infrastructure platforms. Tiger Infrastructure targets investments in communications (digital), energy transition, transportation, and related sectors, primarily located in North America and Europe. For more information, visit www.tigerinfrastructure.com.