11:11 Systems Completes Acquisitions of Sungard Availability Services’ Recovery Business and Cloud Managed Services Business
11:11 Systems, a managed infrastructure solutions provider, today announced the completion of both the acquisition of Sungard Availability Services’ 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”, “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. Brett Diamond, CEO, 11:11.
Tiger Infrastructure Partners, a middle-market private equity company that makes investments in expanding infrastructure platforms, is the sponsor of 11:11.
In this deal, 11:11 received special financial advice from Q Advisors, a worldwide TMT investment banking boutique. Perkins Coie served as 11:11’s legal counsel. The transaction’s terms weren’t made public.
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