11:11 Systems, backed by private equity firm Tiger Infrastructure Partners, has acquired Sungard Availability Services’ cloud managed services businesses. Financial terms of the deal were not disclosed.
This is technology M&A deal number 753 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
11:11, founded in 2020, is based in Fairfield, New Jersey. The company has 103 employees listed on LinkedIn. 11:11’s areas of expertise include cloud, security, internet access, SD-WAN, low-latency solutions, private line connectivity, professional services and network infrastructure.
Sungard Availability Services (Sungard AS), founded in 1978, is based in Wayne, Pennsylvania. The company has 2,025 employees listed on LinkedIn. Sungard AS’ areas of expertise include application management, business continuity, cloud services, disaster recovery, hosting services, IT consulting services, security and compliance, business resilience, cloud computing, digital transformation and cyber incident response.
As a part of this transaction, 11:11 will gain a team of employees that specialize in cloud management, customer service, AWS and Azure professional services and cybersecurity. 11:11 says it 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, the company said.
11:11 Expands Cloud Managed Services Business
Brett Diamond, CEO, 11:11, commented:
“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. Given these similarities, this transaction is a natural fit to enhance and strengthen our existing data center footprint, technology stack and services.”
Justin Giardina, CTO, 11:11, added:
“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.”
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.
11:11’s M&A Growth
11:11 has been expanding through acquisitions in the past few years, most recently acquiring Static1, a managed network and IT infrastructure development and services company, in July 2022.
Previous to that, the company acquired iLand, a cloud service provider (CSP) known for infrastructure-as-a-service (IaaS), disaster recovery-as-a-service (DRaaS) and backup-as-a-service (BaaS); and Green Cloud Defense, a Top 250 MSSP, IaaS and Fortinet partner that supports roughly 700 MSPs.
In April 2022, the company expanded its MSSP services portfolio in order to “prevent, detect and respond to malicious activities.”
