11:11 Systems completes acquisitions of Sungard
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 business. Bringing 11:11’s total acquisitions to seven in the past year, the combined offerings and consulting team capabilities establish 11:11 further 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 organisations 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.”
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.
