11:11 Systems, a managed infrastructure solutions provider, will acquire Sungard Availability Services’ Cloud Managed Services business. The transaction is expected to close this fall. Financial terms of the transaction were not disclosed while the transaction is subject to court approval and customary closing conditions.
With rapidly growing worldwide data center footprints in North America, EMEA, and APAC, 11:11 provides clients with services based on its three key pillars of cloud, connectivity, and security. 11:11 is a provider of backup and disaster recovery and one of the major suppliers of IaaS services to Managed Service Providers (MSPs) in North America thanks to its past acquisitions of iland and Green Cloud Defense.
“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, Chief Executive Officer (CEO) at 11:11. “Given these similarities, this transaction is a natural fit to enhance and strengthen our existing data center footprint, technology stack and services.”
Cloud, Connectivity, Security
“11:11’s focus on cloud, connectivity and security, combined with Sungard AS’ Cloud and Managed Services (CMS) capabilities and team are a perfect complement,” said Michael K. Robinson, Chief Executive Officer and President, Sungard Availability Services. “Sungard AS’ CMS customers will continue to benefit from a provider focused on delivering, optimizing and securing their mission-critical cloud and application environments. What’s more, as numerous Sungard AS employees are expected to transition to 11:11, customers will also continue to benefit from the expertise within the Sungard AS team. Our intent throughout the restructuring has been to evaluate and pursue outcomes that will meet the expectations and needs of our customers, while at the same time addressing the business’ cost structure challenges. Discussions regarding some of Sungard AS’ facilities continue and potential impact to customers is being analyzed.”
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.
“Sungard AS’ expertise in providing cross-platform cloud deployments and management will contribute to our future development,” said Justin Giardina, Chief Technology Officer (CTO) at 11:11. “It includes taking compliance, scalability and availability to the next level as we help our customers manage, optimize and protect their mission critical cloud environments.”