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.